Organized Money: The Paramount Takeover

In a shocking move, Netflix declined to raise its bid against Paramount for control of Warner Bros. After months of corporate tug-of-war, Paramount and David Ellison have taken a giant step toward controlling Warner Bros.’ linear television assets, including CNN, its streaming service HBO Max, and its film studio, which just had a blockbuster year.

Without question, this deal will lead to mass layoffs, fewer shops to sell work to in Hollywood, and leverage massive debt against Paramount.