Neal Freiman

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.

bought Paramount last year, and now Paramount is buying Warner Brothers Discovery.

It's just getting bigger.

And then meanwhile, his father, Larry Ellison, of Oracle fame, now owns a piece of U.S.

TikTok.

So the Ellisons are the new media titans in the room.