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1:35 PM ET, February 28, 2026

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 Top News: 
Bloomberg:
How Paramount's David Ellison deployed financial backing and political lobbying, including his well-connected chief legal adviser, to beat Netflix and win WBD  —  After the board of Warner Bros. Discovery Inc. concluded a meeting Thursday afternoon, Chief Executive Officer David Zaslav called David Ellison …
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Bloomberg:
Paramount pays the $2.8B breakup fee owed to Netflix; NFLX closes up 13.8%, and PSKY closes up 20.8%  —  Paramount Skydance Corp. has paid the $2.8 billion breakup fee owed to Netflix Inc. after the streaming company dropped its planned deal to buy parts of Warner Bros. Discovery Inc., according to people familiar with the move.
Deadline:
One analyst says European regulators are unlikely to block a Paramount-WBD deal; another says it's likely that regulators would slow down the approval process  —  Hollywood's boardroom battle of the decade has ended with P aramount dramatically snatching Warner Bros. Discovery from Netflix.
Alex Weprin / The Hollywood Reporter:
Paramount agrees to acquire Warner Bros. Discovery, paying $31 per share in cash, giving WBD an enterprise value of $110B  —  Netflix backed away from its $87.2 billion deal on Thursday. … The two companies formally unveiled the deal Friday after Netflix formally bowed out of the running a day earlier …
Sara Fischer / Axios:
Since bidding for WBD began in September, its stock price has risen 148% and Paramount raised its bid by 63%, a testament to David Zaslav's dealmaking abilities
CNN:
CNN employees and viewers have serious concerns about whether Ellison will uphold CNN's editorial independence amid severe political pressure  —  Viewers and readers of CNN might be wondering the same thing that CNN employees are asking right now: What will Paramount's ownership mean?
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Winston Cho / The Hollywood Reporter:
California AG Rob Bonta says Paramount-WBD “is not a done deal” as CA DOJ “has an open investigation” and the companies haven't “cleared regulatory scrutiny”  —  If the Justice Department and foreign regulators approves the deal, it'll be up to state attorneys general to challenge the merger.
Ted Johnson / Deadline:
US Senator Elizabeth Warren calls a potential Paramount-WBD merger an “antitrust disaster” and questions the influence of the Trump White House on the deal
Jeremy Barr / The Guardian:
Memo: another CBS News producer leaves, after 46 years, and says, “We've been told to aim our reporting at a particular part of the political spectrum”  —  Mary Walsh, leaving after 46 years, says staffers told to ‘aim our reporting at a particular part of the political spectrum’
Henry Dyer / The Guardian:
UK minister Josh Simons resigns over allegations that a think tank he led has probed some journalists and falsely linked them to a “pro-Kremlin” network  —  Makerfield MP has been under pressure over thinktank's commissioning of PR firm to investigate reporters
Discussion: The Sun, Mirror, HuffPost and GB News
Ted Johnson / Deadline:
The FCC approves Charter's $34.5B merger with Cox, combining cable, fiber, and cloud units, and taking the Cox name and using Spectrum for consumer business  —  The FCC on Friday announced that it has given the greenlight to Charter Communications' $34.5 billion merger with Cox Enterprises.
Chris Gardner / The Hollywood Reporter:
Equalpride, parent company of LGBTQ+ outlets like Out and The Advocate, cuts staff, including the EICs of Pride.com and The Advocate  —  Commenting on the latest round of cuts, a source tells THR, “These brands mean a lot to people, and we need to be telling our stories now more than ever.”
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 More News: 
Christine Wang / Axios:
TMTG says it is in talks to spin off Truth Social into a public company, following the close of its previously announced merger with nuclear fusion startup TAE
Aisha Malik / TechCrunch:
Spotify launches Audiobook Charts in the US and the UK, which will be updated weekly and highlight the top audiobooks overall and by genre
 Earlier Picks: 
Arijeta Lajka / New York Times:
An analysis of 1,000+ YouTube Shorts videos recommended to kids: the algorithm pushes bizarre, often nonsensical, AI-generated videos, and many lack disclosures
Ted Johnson / Deadline:
Memo: CNN CEO Mark Thompson urged employees to avoid jumping to conclusions after Netflix pulled out of the WBD deal and to focus on serving CNN's audience
 

 
From Techmeme:

Anthropic:
Anthropic says it'll challenge “any supply chain risk designation in court” and that the designation would only affect contractors' use of Claude on DOD work

Sam Altman / @sama:
Sam Altman says OpenAI reached an agreement with the DOD to deploy its models in DOD's classified network and asks DOD to extend those terms to all AI companies

Wall Street Journal:
Sources: Israel hacked BadeSaba, a popular Iranian prayer app with 5M+ installs on Google Play, to send messages urging Iranian military personnel to defect
 
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