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7:30 PM ET, January 20, 2026

Mediagazer

 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 …
RELATED:
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
Discussion: New York Post
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 …
RELATED:
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
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.
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 …
@erikwemple:
The US House Armed Services Committee formally asks the Defense Department how it plans to safeguard Stars and Stripes' congressionally required independence  —  A little followup on the Pentagon's move to “refocus” Stars and Stripes: The House Armed Services Committee has sent a bipartisan query to the Defense Department asking how it plans to safeguard the publication's congressionally required independence, among other questions.
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, beating Christmas 2024 by 3.9B minutes  —  The month of December also marked another all-time high for streaming usage.  —  With three streaming-exclusive NFL games …
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.
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.
Cecilia Kang / New York Times:
Snap reaches an agreement to settle a social media addiction lawsuit, a week before the start of a trial in the first of several such lawsuits  —  The settlement means Snap will avoid a trial where plaintiffs had planned to argue that social media platforms are inherently defective and subject to personal injury liability.
 
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 More News: 
Ivan Mehta / TechCrunch:
Netflix adds a real-time voting feature for its Star Search reboot, available on mobile, smart TVs, and streaming devices, but not on a browser
Charlotte Tobitt / Press Gazette:
Evening Standard plans to outsource its digital operations to Independent Media effective March 1; the Standard will still publish its weekly print newspaper
Discussion: Financial Times
 Earlier Picks: 
Jess Weatherbed / The Verge:
Sony and TCL sign a non-binding agreement to spin off Sony's TV and home audio hardware business into a new joint venture, aiming to finalize the deal by March
Meredith Klein / Meredith & The Media:
Q&A with Josh Sternberg, executive editor at Morning Brew, about leading Morning Brew's editorial strategy, the ever-changing media landscape, and more
Discussion: Talking Biz News
 

 
From Techmeme:

Juby Babu / Reuters:
OpenAI rolls out age prediction on ChatGPT globally to identify users under 18 and apply automatic content protections as it prepares to introduce adult content

Christina Kyriasoglou / Bloomberg:
Anthropic CEO Dario Amodei says selling AI chips to China is like “selling nuclear weapons to North Korea” and has “incredible national security implications”

Cade Metz / New York Times:
Humans&, founded by ex-Anthropic, xAI, and Google staff to build collaborative AI, raised a $480M seed from Nvidia, Jeff Bezos, and others at a $4.48B valuation
 
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