Top News:
Todd Spangler / Variety:
Netflix and WBD say Netflix revised its WBD offer to an all-cash deal for $27.75/share, with the same $82.7B value; its original bid had $59B in debt financing — Netflix and WBD announced Tuesday that they amended their definitive agreement for Netflix's proposed acquisition of Warner Bros. assets …
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Bloomberg:
Sources: banks including Wells Fargo, BNP Paribas, and HSBC began selling an extra $8.2B of short-term loans to help Netflix fund its WBD purchase — Banks including Wells Fargo & Co. on Tuesday started selling, or syndicating, an extra $8.2 billion of short-term loans to help Netflix Inc. fund …
Discussion:
New York Post
Dade Hayes / Deadline:
Netflix's ad revenue hit $1.5B in 2025, up by more than 2.5x vs. 2024, and viewing hours grew 2% YoY in H2, driven by a 9% rise in viewing of branded originals — Earnings per share came in a penny ahead of expectations at 56 cents, while revenue of $12.051 billion exceeded the target of around $12 billion.
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Adweek, The Wrap, Wall Street Journal, Variety, Yahoo Finance, Axios, Business Insider, Benzinga, The Information, @xpangler and Associated Press, more at Techmeme »
Lucas Shaw / Bloomberg:
Netflix reports Q4 revenue up 18% YoY to $12B vs. $11.97B est., 325M paid subs, 2025 revenue up 16% to $45.2B, plans to increase content spend by 10% in 2026 — Netflix Inc. delivered fourth-quarter results that largely beat Wall Street estimates but issued a cautious forecast for the months ahead …
Alex Weprin / The Hollywood Reporter:
Filings: WBD projects CNN will generate $1.8B in revenue and $600M in adjusted EBITDA for FY 2026; docs show CNN had revenue of $2.2B in 2021 and $1.8B in 2023 — Warner Bros. Discovery is revealing financial details in connection with its planned spinout of Discovery Global.
Discussion:
Deadline, @kbandersen, The Wrap, @pkafka, @benmullin, Cord Cutters News and Variety
Peter White / Deadline:
Alan's Universe creator Alan Chikin Chow, whose YouTube channel has 99M subscribers, is working on a Netflix show, joining other major YouTubers at the streamer — He is working with Hybe America, the U.S. arm of the Korean entertainment company responsible for BTS, on the untitled project.
Discussion:
The Wrap, Variety, What's on Netflix and The Hollywood Reporter
Jaspreet Singh / Reuters:
Beehiiv expects to nearly double its annual revenue to $50M in 2026; it has 40K+ MAUs, including 15K paying subscribers; 1 in 7 new writers come from Substack — Beehiiv expects to nearly double annual revenue to $50 million this year as the newsletter startup challenges larger rival Substack …
Discussion:
WebProNews, @denk_tweets and @loudmouthjulia, more at Techmeme »
Kerry Flynn / Axios:
Pitchfork launches a $5 per month or $50 per year subscription that lets readers comment on reviews, rate albums, and access its archive of 30,000+ reviews — Pitchfork is launching a new subscription that lets readers comment on reviews, rate albums themselves and access its full archive …
Discussion:
Pitchfork and The A.V. Club
Katie Atkinson / Billboard:
Penske Media names Leila Cobo and Jason Lipshutz as co-chief content officers of Billboard, overseeing editorial content and newsroom operations — The pair will share oversight of Billboard's editorial content and newsroom operations. … Leila Cobo and Jason Lipshutz have been promoted …
Discussion:
Talking Biz News, The Wrap, Variety and The Hollywood Reporter
Caitlin Huston / The Hollywood Reporter:
Adobe pledges ~$10M in grants and product donations in 2026 to support filmmakers, including funding creators directly for the first time — The software company is launching new partnerships with organizations including Dimoldenberg's Dimz Inc. Academy and Rideback RISE.
Discussion:
@davelee.me
Rick Porter / The Hollywood Reporter:
Nielsen: Christmas Day 2025 set a record for US streaming usage with 55.1B minutes, or 54% of all TV viewing for the day, up by 3.9B minutes on Christmas 2024 — The month of December also marked another all-time high for streaming usage. — With three streaming-exclusive NFL games …
Dade Hayes / Deadline:
A jury has found Edo, a TV ad measurement company, liable for breach of contract and says Edo must pay $18.3M in damages to rival iSpot; Edo plans to appeal — EDO, an advertising technology firm co-founded by actor and filmmaker Edward Norton, has been found liable for breach of contract by a federal jury.
Discussion:
Wall Street Journal, Adweek and AdExchanger
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