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3:35 PM ET, December 5, 2025

Mediagazer

 Top News: 
Daniel Thomas / Financial Times:
Netflix agrees to acquire WBD's studios and streaming business in an $82.7B cash-and-stock deal, including debt, to close after WBD splits in two in Q3 2026  —  As part of the deal, WBD will continue with plan to spin off its cable television networks  —  Netflix has agreed an $83bn takeover …
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Tony Maglio / The Hollywood Reporter:
Netflix says it “expects to maintain Warner Bros.' theatrical releases for films” but “the windows will evolve to be much more consumer friendly”  —  Now that that's settled...  Netflix just solidified itself as the leading entertainment company (and then some), and all it cost was $83 billion.
Alex Sherman / CNBC:
Documents and source: WBD CEO David Zaslav's stock in WBD would be worth close to $660M if the Netflix deal closes  —  This isn't exactly what David Ellison had planned in September.  —  Just a few months ago, the Paramount Skydance CEO sent a letter to the Warner Bros. Discovery board …
Nicole Sperling / New York Times:
Netflix's WBD bid marks a striking strategy shift for a company long known for pivots, especially after years of avoiding full commitment to theatrical releases  —  The streaming giant has changed its strategy many times over the years.  But the decision to get deeply into theatrical releases may be the most startling yet.
Chris Kerr / Game Developer:
WBD confirms that Warner Bros. Games will be acquired by Netflix along with its wider streaming and television business  —  A Warner Bros. spokesperson has confirmed the video game division will be acquired by Netflix alongside its wider streaming and television business.
Dade Hayes / Deadline:
Netflix CEOs say the WBD deal won't fail because “we understand these assets that we're buying” and they're not buying to compensate for business deterioration  —  Netflix Co-CEOs Ted Sarandos and Greg Peters sought to reassure investors that their game-changing deal …
Jane Fonda / The Ankler:
Jane Fonda warns that a WBD merger in any form is an alarming escalation in media consolidation, threatening the entertainment industry and the First Amendment
Isabella Simonetti / Wall Street Journal:
Sources: Vanity Fair and Olivia Nuzzi have agreed to part ways following new allegations about her affair with RFK Jr. and her behavior while reporting on him  —  Nuzzi joined the magazine as an editor earlier this year  —  Vanity Fair and Olivia Nuzzi have agreed to part ways following …
Robert Channick / Chicago Tribune:
The Chicago Tribune sues Perplexity for copyright infringement, alleging Perplexity's platforms lift Tribune content verbatim and divert traffic from the paper  —  The Chicago Tribune filed a copyright infringement lawsuit Thursday in New York federal court against Perplexity AI …
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New York Times:
The New York Times sues Perplexity, claiming the AI startup violated its copyrights and kept using its content despite repeated demands over the past 18 months
Sara Fischer / Axios:
Meta strikes commercial AI data deals with news publishers, including CNN, Fox News, and The Daily Caller, to provide real-time answers in its Meta AI chatbot  —  Meta on Friday said it has struck several commercial AI data agreements with news publishers ranging from USA Today, People Inc. …
Liam Scott / Columbia Journalism Review:
A look at the First Amendment Watch's SLAPP Back Initiative, a US SLAPP tracker; in 2024, 69 of 500 cases involved the media, of which 46 were dismissed  —  As Donald Trump tests the limits of anti-press litigation, a new initiative aims to document the wave of nuisance suits.
Scott Roxborough / The Hollywood Reporter:
A European theater owners group says Netflix's Warner Bros. acquisition “represents a double risk” of fewer films being produced and getting theatrical releases  —  The UNIC, which represents cinema exhibitors across Europe, fears the streamer will downgrade the theatrical experience.
 
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 More News: 
Tyler Falk / Current:
CPB announces $4.4M in grants to support rural radio and TV news services in Wisconsin, Ohio, Arkansas, Kansas, West Virginia, Tennessee, Michigan, and Iowa
Foo Yun Chee / Reuters:
The EU fines X €120M for breaching online content rules, the first DSA fine, citing issues like its failure to publish an ad repository, after a two-year probe
Max Tani / Semafor:
Sources: Atlas Obscura's co-founders were pushed out of the company amid clashes with CEO Louise Story, who has trimmed staff and changed editorial strategy
 Earlier Picks: 
Wendy Davis / MediaPost:
The New York Times, AP, RCFP, and other media organizations back an effort to block a new Texas law requiring app stores to verify users' ages
Kim Chandler / Associated Press:
The University of Alabama suspends two student-run magazines, one focused on Black students and another on women's issues, citing federal anti-DEI guidance
The Guardian:
Ireland, Spain, Slovenia, and the Netherlands exit Eurovision after Israel received an all-clear to compete; the BBC and Germany's SWR plan to participate
Alex Weprin / The Hollywood Reporter:
CBS Evening News co-anchor Maurice DuBois will exit CBS News on December 18, as EIC Bari Weiss and President Tom Cibrowski overhaul the evening newscast
 

 
From Techmeme:

Wall Street Journal:
Sources: SpaceX is planning a secondary share sale that would value the company at $800B, surpassing OpenAI to make it the most valuable US private company

Rose Henderson / Bloomberg:
Cloudflare says it has fixed an issue that caused a 25 minute outage on Friday, following a major, hours-long outage last month

Echo Wang / Reuters:
Meta acquires Limitless, which makes a pendant-style AI wearable that records and transcribes real-world conversations; Limitless has raised more than $33M
 
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