Neal Freiman

Let's ride.

Good morning and happy Friday and Barry host of brew markets is back with us today.

And well, I think we just need to skip the small talk and get right into it because a couple business news haymakers arrived last night.

Netflix has walked away from its deals by Warner Brothers Discovery after Paramount submitted a more generous offer.

leaving David Ellison's media company the winner to take over the storied Hollywood giant.

For months in this drawn-out saga, Netflix had the upper hand.

But this week, the ever-persistent Paramount budged up its offer to $111 billion, and Warner Bros.

deemed it the superior bid.

Instead of countering with even more money, Netflix decided to fold, and Wall Street breathed a sigh of relief because it wasn't convinced this was a smart move for Netflix.

Netflix shares popped nearly 7% following the news yesterday evening, and David Ellison gets his prize.

Ted Sarandos, the co-CEO, was actually at the White House yesterday meeting with staff because, remember, this potential merger of Netflix and Warner Brothers Discovery faced a long regulatory road ahead.

Let's talk about what's being combined here.

So what do Paramount and Warner Brothers Discovery bring together?

Well, this combined company will own two major movie studios.

Warner Brothers and Paramount, two major news operations, CBS and CNN, two major streaming services, HBO Max and Paramount Plus, and then a massive sports portfolio, NFL, MOB, NHL, UFC, March Madness Golf, UEFA Champions League.

I could go on.

So that is all going to be owned by David Ellison.

The Ellisons are on a hot streak right now.

David Ellison, he's kind of reverse Pac-Man this whole media business because he remember he was running a company called Skydance.

Skydance.