Ed Ludlow

Oracle down three tenths of a percent.

We're treading water.

That is the big earnings print after the bell.

Siti Panagrahi of Mizzou.

Great to have you on the show.

Welcome back to Bloomberg Tech.

Probably the story of the week, maybe, has been the saga around Warner Brothers' discovery.

Two competing bids, one from Netflix, cash and stock at $27.75 a share, which is just for the streaming and studios, and one from Paramount Skydance, $30 per share for the whole enchilada.

This is what those stocks have traded like on the week.

We're not quite in the sort of discussion territory around arbitrage.

In other words, looking at the gap between where the stock's trading and the price of the deals offered because it's a live situation with multiple bids.

But we are looking at the structure of the deals.

Now, Netflix is looking to become Debtflix again.

Do you see what we did there?

After cutting back on debt during the pandemic, it's back to borrowing heavily to finance its planned acquisition for most of Warner Brothers' discovery, the caveat that they'd spin off the legacy network and cable lines.

The difference is that now Netflix has a stronger balance sheet.

Hot off the press, just hit the wire, Bloomberg's cross-asset reporter, Emily Grafeo, has the deep dive.

Debt is becoming so important generally across technology.

But in this case, with Netflix, it is a change of corporate policy in what is a potentially very big deal.

What are you reporting?