WBD Says Paramount Offer May Top Netflix, State of the Union Address Nears, More
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The UK stands apart as a place to do business, not because of one advantage, but many working together. Over £10 trillion in capital, four of the world's top universities, a 10-year industrial strategy in action, its stability with dynamism, global reach with local depth. It all adds up to greater growth. Find out more at business.gov.uk slash growth.
News when you want it with Bloomberg News Now, I'm Doug Krisner. Warner Brothers Discovery says a new takeover offer from Paramount Skydance is expected to lead to a better deal than Warner's existing agreement with Netflix. Paramount's revised bid is worth $31 per share cash. Now, Warner's board made the determination after a seven-day period in which Paramount was allowed to once again negotiate. Here is Bloomberg's Chris Palmieri.
The Warner Brothers board is not completely convinced that they're there. They maybe think they can get a little bit more out of Paramount. It certainly seems that way. This is an extraordinary offer here. Paramount's not only raised the price $31 a share, they raised the termination fee. If they don't get their deal done due to regulatory concerns, they're also agreeing to pay $2.8 billion to Netflix to get them out of that deal. So it's just a real indicator of how much Paramount wants this.
That is Bloomberg's Chris Palmieri. Now, Warner's board has not withdrawn its recommendation to shareholders to support the agreement with Netflix. That deal, by the way, at $27.75 a share, would pay for Warner's studio and HBO operation. Instead, Warner's board is saying the latest terms from Paramount meet the threshold for further talks, including with Netflix. President Trump is set to deliver his State of the Union address tonight. It's expected to tilt heavily on domestic issues such as the economy, immigration and tariffs. Trump said it's going to be a long speech because there is so much to talk about. Here is Mark Short, former chief of staff to former Vice President Mike Pence.
The president understands the environment. He understands big moments. He understands the 250th anniversary of our republic. And I think you'll hear him talk about that. But he'll be speaking to the American people about what he plans to do for affordability. I think there's very little he's going to get done in this Congress. And I think, sadly, some of the proposals he's going to put forward, frankly, will get done more likely after the Democrats win in the midterm.
Mark Short there.
What is the significance of Paramount's new takeover offer?
He is former chief of staff to former Vice President Mike Pence, speaking earlier to Bloomberg. The Pentagon and Anthropic are in a standoff. Defense Secretary Pete Hegseth has given Anthropic until Friday to open its AI technology for unrestricted military use or risk losing its government contract. Now, Reuters is reporting Anthropic has no plans to ease limits on military usage. Gregory Allen is with the Wawandi AI Center. He says this dispute comes at an awkward time.
The user base within the Department of Defense loves Anthropic, loves Claude, and says that their restrictions on usage, at least from the conversations that I have been having, have never been triggered. There has never been a time where Anthropic said no.
You can hear more with Greg Allen on the Bloomberg Balance of Power podcast. A senior U.S. Senator has opened an inquiry into crypto exchange Binance Holdings. Richard Blumenthal is the top Democrat on the Permanent Subcommittee on Investigations, and he's responding to reports on Binance's involvement in funneling nearly $2 billion to Iranian government groups designated as terrorist organizations. The Trump administration is reportedly discussing an executive order to force banks to collect citizenship data on customers. The Wall Street Journal reports the potential move could apply not only to new customers, but existing account holders as well. The U.S. House of Representatives has voted down the Rotor Act.
Supporters said the bipartisan bill would have improved aviation safety. This legislation came in response to a mid-air collision that happened last year near Washington, D.C.
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