December 9, 2025 • 6 mins
Paramount is launching a hostile takeover of Warner Brothers. Our National Correspondent Rory O'Neill breaks down the complexities of this pending merger and gives us a preview of the upcoming Fed meeting.
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Episode Transcript
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Speaker 1 (00:00):
Spring in our national correspondent Rory O'Neill, whose reports brought
to you by Mark Spain Real Estate. So, Rory, what
is going on with Paramount and Warner Brothers and Netflix.
I mean I hear hostile takeover and I think succession.
Speaker 2 (00:17):
What happened?
Speaker 3 (00:18):
Yeah that check? Well there you go.
Speaker 4 (00:20):
But okay, so Paramount will tell you the concern there
is it's going to be more stuff that's made for
streaming and not for movie theaters. The Paramount ceo the
Ellison family saying, look, if you let Netflix take over
Warner Brothers, they're not going to release anything in the
theater ever again. So that's going to put more pressure
on your local movie theater that's already struggling to survive.
(00:43):
But look, the Netflix CEO saying that this hostile takeover
bid is whatever.
Speaker 3 (00:49):
They said, this was all expected.
Speaker 4 (00:51):
They say, they have a deal that's done at eighty
two billion dollars. But this is going to take a
long time to sort out. We've got another year or
so of regular tour approval as this pushes forward.
Speaker 1 (01:01):
Yeah, so Paramount they wanted to buy I think everything
from Warner Brothers, Discovery, Right, cable network, stream the whole deal.
Shoot yeah, Netflix is only looking to bid on the
studio and streaming assets, so like CNN, TNT, that kind
of stuff, that.
Speaker 4 (01:22):
Wouldn't be part of that deal, right, that's supposed to
be getting spun off. That was what the they already
Warner Brothers, Discovery already announced that they were going to
spin off those networks. But Paramount's like, oh, well, take
the whole thing, the whole kitten camoodle.
Speaker 3 (01:37):
So that's why our offer is a bit sweeter.
Speaker 4 (01:39):
And it's the valuation of those channels that you know,
some say the stock of that is worth a dollar,
some say it's worth three dollars. And that's a big
part of the discrepancy here going forward. But look on
the anti Paramount side, you'd say, well, do we really
want the company that owns CBS News taking over the
company that owns CNN, because probably they're only going to
(02:00):
need one newsroom and that may limit competition going forward.
President Trump maybe in favor of that deal after another
rant against sixty Minutes over the weekend. Lass keep in
mind Jared Kushner is helping to finance the Paramount deal.
Speaker 1 (02:13):
Yeah, yeah, well's with that and the Saudi's and all
of that Middle East money.
Speaker 4 (02:20):
Yeah, they're apparently helping to backstop the funding through the
Ellison family. The Allison family already tight with the Trump's
to begin with.
Speaker 1 (02:30):
Okay, yeah, and Jared Kushner is kind of in the
middle of this whole thing, which I mean, you know,
you thought Hunter Biden had conflicts of interest? My god,
half of the media, right, And then the Wall Street
Journal they reported that during a December visit to Washington,
David Ellison, who's the CEO of Paramount, offered assurances to
(02:50):
Trump administration officials that if he bought Warner Brothers, he'd
make sweeping changes to CNN. And Trump has told people
close to him that he wants new ownership of CNN
as well as changes to CNN programming. So that's not surprising,
but I got to tell you that's alarming. Like, you
(03:11):
can't have the president of the United States and CNN
needs changes, There is no question about that they need changes.
But you can't have the president of the United States
being the one responsible for making those changes.
Speaker 2 (03:27):
Like that can't happen.
Speaker 1 (03:29):
Can you imagine if you know, another Democratic president got
into power and was finding a way to make programming
changes on Fox News.
Speaker 5 (03:40):
Well, and people already think that the Democrats have a
lot of influences media and CNN and that it's biased.
So this is just the.
Speaker 1 (03:46):
Opposes, right, right, But when you've got the president kind
of making a deal with the CEO, that's that's.
Speaker 2 (03:52):
Just I think that's a little concerning Rory.
Speaker 4 (03:56):
Yeah, well they'll have a lovely ballroom too, that's right.
Speaker 2 (04:02):
So do we know what's next with all of this,
where this goes from here?
Speaker 4 (04:06):
Yeah, this whole merger process is literally not going to
close until twenty twenty seven, is the prediction.
Speaker 3 (04:12):
So we'll see how this goes again. President Trump was
asked about it, said I'm.
Speaker 4 (04:16):
Not going to get too involved, but you know, let's
see the concern again. Paramount says, if you let Netflix,
which is the eight hundred pound gorilla, take over HBO Max,
they're going to be a nine hundred pound guerrilla and
no one is going to have a chance. They say,
look where number three let us merge, or where number
five let us merge with number three in HBO Max.
(04:36):
Suddenly we become a strong number two, sort of on
par with Disney, and then that's healthier for everyone involved.
They promise fifteen theatrical releases every year with the new company.
So they're trying to say that, you know, this is
a rising tide for everybody, and not just giving more
power to Netflix with the power of pricing. Like if
you think of Netflix is pricing, now, wait, you have
(04:58):
no competition.
Speaker 1 (04:59):
Yeah, that's the thing. The only thing I care about.
If Paramount takes over Warner Brothers, do we get some
kind of a Paramount plus HBO Max bundle? If Netflix
takes over Warner Brothers, do we get a Netflix Hbo
Max bundle?
Speaker 2 (05:11):
That's the only thing I want to know. Thank you.
Speaker 3 (05:12):
Well, do they bundle at all? Or just say you
know what? We just you know right now?
Speaker 5 (05:17):
Well, for instance, I mean, obviously we need competition, but
at the same time, I hate that I have to
subscribe to different things in.
Speaker 3 (05:24):
Order to watch all the stuff I want to watch.
Speaker 2 (05:26):
Rights of Pain.
Speaker 4 (05:27):
Right, We've got Disney and Hulu for now. How much
longer does that is that? Two separate things?
Speaker 1 (05:32):
Mm hmm, all right, our National correspondent Rory O'Neil one
more quick story to get to Federal Reserve. Looks like
they're poised for another rate cut, which'll be announced tomorrow,
but as is always the case, the focus is going
to be on what the Federal Reserve Chairman says about
what could come next year.
Speaker 4 (05:51):
Right, These are two day meetings, so the meeting starts
today and then when they make their announcement, then the
head of the Fed does a press conference with reporters.
That's really where you read into what they're being said,
and you can read between the lines. But look, there's
expected to be some descent, someone a half point cut,
others saying we should hold here, concerned inflation could return.
But look, we are clearly seeing softening jobs numbers out there.
(06:14):
We're going to get the Jolts report shortly, and the
Fed has a mandate they are required to maximize employment,
which is why we're likely on track for cut number
three tomorrow afternoon.
Speaker 1 (06:24):
All Right, our national correspondent Rory O'Neil with us this morning. Rory,
appreciate the update, Thanks so much.
Speaker 3 (06:30):
Hey, Thanks Ryan.
Speaker 2 (06:31):
There's a Ryan Gorman Show five to nine every weekday
morning on news RADIOWFLA
Spring in our national correspondent Rory O'Neill, whose reports brought
to you by Mark Spain Real Estate. So, Rory, what
is going on with Paramount and Warner Brothers and Netflix.
I mean I hear hostile takeover and I think succession.
Speaker 2 (00:17):
What happened?
Speaker 3 (00:18):
Yeah that check? Well there you go.
Speaker 4 (00:20):
But okay, so Paramount will tell you the concern there
is it's going to be more stuff that's made for
streaming and not for movie theaters. The Paramount ceo the
Ellison family saying, look, if you let Netflix take over
Warner Brothers, they're not going to release anything in the
theater ever again. So that's going to put more pressure
on your local movie theater that's already struggling to survive.
(00:43):
But look, the Netflix CEO saying that this hostile takeover
bid is whatever.
Speaker 3 (00:49):
They said, this was all expected.
Speaker 4 (00:51):
They say, they have a deal that's done at eighty
two billion dollars. But this is going to take a
long time to sort out. We've got another year or
so of regular tour approval as this pushes forward.
Speaker 1 (01:01):
Yeah, so Paramount they wanted to buy I think everything
from Warner Brothers, Discovery, Right, cable network, stream the whole deal.
Shoot yeah, Netflix is only looking to bid on the
studio and streaming assets, so like CNN, TNT, that kind
of stuff, that.
Speaker 4 (01:22):
Wouldn't be part of that deal, right, that's supposed to
be getting spun off. That was what the they already
Warner Brothers, Discovery already announced that they were going to
spin off those networks. But Paramount's like, oh, well, take
the whole thing, the whole kitten camoodle.
Speaker 3 (01:37):
So that's why our offer is a bit sweeter.
Speaker 4 (01:39):
And it's the valuation of those channels that you know,
some say the stock of that is worth a dollar,
some say it's worth three dollars. And that's a big
part of the discrepancy here going forward. But look on
the anti Paramount side, you'd say, well, do we really
want the company that owns CBS News taking over the
company that owns CNN, because probably they're only going to
(02:00):
need one newsroom and that may limit competition going forward.
President Trump maybe in favor of that deal after another
rant against sixty Minutes over the weekend. Lass keep in
mind Jared Kushner is helping to finance the Paramount deal.
Speaker 1 (02:13):
Yeah, yeah, well's with that and the Saudi's and all
of that Middle East money.
Speaker 4 (02:20):
Yeah, they're apparently helping to backstop the funding through the
Ellison family. The Allison family already tight with the Trump's
to begin with.
Speaker 1 (02:30):
Okay, yeah, and Jared Kushner is kind of in the
middle of this whole thing, which I mean, you know,
you thought Hunter Biden had conflicts of interest? My god,
half of the media, right, And then the Wall Street
Journal they reported that during a December visit to Washington,
David Ellison, who's the CEO of Paramount, offered assurances to
(02:50):
Trump administration officials that if he bought Warner Brothers, he'd
make sweeping changes to CNN. And Trump has told people
close to him that he wants new ownership of CNN
as well as changes to CNN programming. So that's not surprising,
but I got to tell you that's alarming. Like, you
(03:11):
can't have the president of the United States and CNN
needs changes, There is no question about that they need changes.
But you can't have the president of the United States
being the one responsible for making those changes.
Speaker 2 (03:27):
Like that can't happen.
Speaker 1 (03:29):
Can you imagine if you know, another Democratic president got
into power and was finding a way to make programming
changes on Fox News.
Speaker 5 (03:40):
Well, and people already think that the Democrats have a
lot of influences media and CNN and that it's biased.
So this is just the.
Speaker 1 (03:46):
Opposes, right, right, But when you've got the president kind
of making a deal with the CEO, that's that's.
Speaker 2 (03:52):
Just I think that's a little concerning Rory.
Speaker 4 (03:56):
Yeah, well they'll have a lovely ballroom too, that's right.
Speaker 2 (04:02):
So do we know what's next with all of this,
where this goes from here?
Speaker 4 (04:06):
Yeah, this whole merger process is literally not going to
close until twenty twenty seven, is the prediction.
Speaker 3 (04:12):
So we'll see how this goes again. President Trump was
asked about it, said I'm.
Speaker 4 (04:16):
Not going to get too involved, but you know, let's
see the concern again. Paramount says, if you let Netflix,
which is the eight hundred pound gorilla, take over HBO Max,
they're going to be a nine hundred pound guerrilla and
no one is going to have a chance. They say,
look where number three let us merge, or where number
five let us merge with number three in HBO Max.
(04:36):
Suddenly we become a strong number two, sort of on
par with Disney, and then that's healthier for everyone involved.
They promise fifteen theatrical releases every year with the new company.
So they're trying to say that, you know, this is
a rising tide for everybody, and not just giving more
power to Netflix with the power of pricing. Like if
you think of Netflix is pricing, now, wait, you have
(04:58):
no competition.
Speaker 1 (04:59):
Yeah, that's the thing. The only thing I care about.
If Paramount takes over Warner Brothers, do we get some
kind of a Paramount plus HBO Max bundle? If Netflix
takes over Warner Brothers, do we get a Netflix Hbo
Max bundle?
Speaker 2 (05:11):
That's the only thing I want to know. Thank you.
Speaker 3 (05:12):
Well, do they bundle at all? Or just say you
know what? We just you know right now?
Speaker 5 (05:17):
Well, for instance, I mean, obviously we need competition, but
at the same time, I hate that I have to
subscribe to different things in.
Speaker 3 (05:24):
Order to watch all the stuff I want to watch.
Speaker 2 (05:26):
Rights of Pain.
Speaker 4 (05:27):
Right, We've got Disney and Hulu for now. How much
longer does that is that? Two separate things?
Speaker 1 (05:32):
Mm hmm, all right, our National correspondent Rory O'Neil one
more quick story to get to Federal Reserve. Looks like
they're poised for another rate cut, which'll be announced tomorrow,
but as is always the case, the focus is going
to be on what the Federal Reserve Chairman says about
what could come next year.
Speaker 4 (05:51):
Right, These are two day meetings, so the meeting starts
today and then when they make their announcement, then the
head of the Fed does a press conference with reporters.
That's really where you read into what they're being said,
and you can read between the lines. But look, there's
expected to be some descent, someone a half point cut,
others saying we should hold here, concerned inflation could return.
But look, we are clearly seeing softening jobs numbers out there.
(06:14):
We're going to get the Jolts report shortly, and the
Fed has a mandate they are required to maximize employment,
which is why we're likely on track for cut number
three tomorrow afternoon.
Speaker 1 (06:24):
All Right, our national correspondent Rory O'Neil with us this morning. Rory,
appreciate the update, Thanks so much.
Speaker 3 (06:30):
Hey, Thanks Ryan.
Speaker 2 (06:31):
There's a Ryan Gorman Show five to nine every weekday
morning on news RADIOWFLA
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