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VIENNA, Dec 5 (Reuters) – Four countries' boycott of the Eurovision Song Contest over Israel's participation could reduce the budget for next year's edition in Vienna but the show will be no worse for it, Austrian host broadcaster ORF said on Friday. At a meeting on Thursday, national broadcasters that make up the European Broadcasting Union cleared Israel to take part in the next contest in May. That prompted Spain, the Netherlands, Ireland and Slovenia to say they were withdrawing over the war in Gaza, plunging the contest into one of the biggest ever rows. Austria was among the countries to come out most firmly in favour of Israel, and ORF chief Roland Weissmann visited Israel in the run-up to Thursday's meeting to show his support. "The show will not suffer in any way," Weissmann, told ORF radio, adding that those pulling out still had until mid-December to change their minds. Spain is one of the five countries whose broadcasters make the biggest financial contribution towards the organisation of the contest, according to the competition's website. Ireland is also an important Eurovision nation, having won the competition a record seven times, tied with Sweden. "Overall, it would of course be a financial burden if several countries didn't participate, but we had already taken this into account … and this mainly affects the EBU, which has already factored this into its budget," Weissmann said. "I don't see this being a problem in Vienna and even if there is a bit less, we'll be able to compensate for it." (Reporting by Francois MurphyEditing by Dave Graham)

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Dec 5 (Reuters) – Netflix has agreed to buy Warner Bros Discovery's TV and film studios and streaming division for $72 billion, a deal that would hand control of one of Hollywood's most prized and oldest assets to the streaming pioneer that has upended the media industry. The agreement – announced on Friday – follows a weeks-long bidding war where Netflix seized the lead with a nearly $28-a-share offer that eclipsed Paramount Skydance's nearly $24 bid for the whole of Warner Bros Discovery, including the cable TV assets slated for a spinoff. Warner Bros Discovery shares closed at $24.5 on Thursday, giving it a market value of $61 billion. DEAL SET TO RESHAPE MEDIA LANDSCAPE Buying the owner of marquee franchises including "Game of Thrones", "DC Comics" and "Harry Potter" will further tilt the power balance in Hollywood in favor of the streaming giant that built its dominance without major acquisitions or a large content library, helping its efforts to ward off competition from Walt Disney and the Ellison family-backed Paramount. "Together, we can give audiences more of what they love and help define the next century of storytelling," Netflix co-CEO Ted Sarandos said in a statement. STRONG ANTITRUST SCRUTINY LIKELY Analysts have said Netflix is driven by a desire to lock up long-term rights to hit shows and films and rely less on outside studios as it expands into gaming and looks for new avenues of growth after the success of its password-sharing crackdown. But the deal will likely face strong antitrust scrutiny in Europe and the U.S. as it would give the world's biggest streaming service ownership of a rival that is home to HBO Max and boasts nearly 130 million streaming subscribers. David Ellison-led Paramount, which kicked off the bidding war with a series of unsolicited offers and has close ties with the Trump administration, questioned the sale process earlier this week in a letter alleging favorable treatment to Netflix. To ease concerns about market concentration, Netflix argued in deal talks that a potential combination of its streaming service with HBO Max would benefit consumers by lowering the cost of a bundled offering, Reuters reported on Tuesday. The company has also told Warner Bros Discovery that it would keep releasing the studio's films in cinemas in a bid to ease fears that its deal would eliminate another studio and major source of theatrical films, according to media reports. CASH-AND-STOCK DEAL Netflix shares were down nearly 3% in premarket trading, while Paramount was down 2.2%. Comcast, the third suitor, was trading little changed. Under the deal, each Warner Bros Discovery shareholder will receive $23.25 in cash and about $4.50 in Netflix stock per share, valuing Warner at $27.75 a share, or about $72 billion in equity and $82.7 billion, including debt. The deal is expected to close after Warner Bros Discovery spins off its global networks unit, Discovery Global, into a separate listed company, a move now set for completion in the third quarter of 2026. Netflix said it expects to generate at least $2 billion to $3 billion in annual cost savings by the third year, after the deal closes. (Reporting by Aditya Soni and Harshita Mary Varghese in Bengaluru; Editing by Arun Koyyur)

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By Milana Vinn Dec 4 (Reuters) – Netflix is in exclusive talks to buy Warner Bros Discovery's film and television studios along with its streaming assets after offering $28 per share, a source with direct knowledge of the matter said. The parent of HBO, which has been exploring strategic options, received a second round of bids this week after Netflix, Paramount Skydance and Comcast made preliminary buyout proposals. Netflix, which emerged as the top bidder, made a mostly cash offer, Reuters has previously reported. The $28 per share offer compares with Warner Bros' closing price of $24.54 on Thursday and a previous offer from Paramount of nearly $24 for all of the company's assets that also include cable networks such as CNN, TNT and TBS. Netflix and Warner Bros Discovery did not immediately respond to Reuters requests for comment. STRATEGIC PIVOT Netflix is aggressively diversifying beyond its core subscription model to drive new revenue streams. A deal with Warner Bros, whose franchises include "Harry Potter", "Game of Thrones" and DC Comics, would transform Netflix into a vertically integrated media powerhouse, giving it one of Hollywood's most valuable libraries. Netflix would gain exclusive long-term control over premium intellectual property while reducing its reliance on external studios as it expands into gaming, live entertainment and broader consumer ecosystems. Bloomberg News reported Netflix has offered a $5 billion breakup fee if regulators block the deal and that the companies could announce the agreement within days. The news of a potential deal has prompted a consortium of leading film industry figures to urge the U.S. Congress to intervene if Netflix's bid succeeds, warning of a looming economic and institutional crisis in Hollywood, Variety reported. Paramount has accused Warner Bros of running an unfair sale process that favors Netflix over other bidders, CNBC reported on Thursday, citing a letter sent by its newly merged media company. "We strongly urge you to empower such a special committee comprised of directors with no potential appearance of bias or beholdenness to others whose interests may differ from those of the stockholders," Paramount's legal team was quoted as saying in the letter. Paramount did not immediately respond to Reuters' requests for comment. In October, the Warner Bros board turned down a roughly $60 billion bid from Paramount for the entire company and subsequently launched a formal sales process for its assets. (Reporting by Milana Vinn in New York, Harshita Mary Varghese and Arasu Kannagi Basil in Bengaluru, Juby Babu in Mexico City, and Dawn Chmielewski; Additional reporting by Gursimran Kaur; Editing by Mrigank Dhaniwala, Miyoung Kim and Edwina Gibbs)

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By Olivia Le Poidevin, Klaus Lauer, Johnny Cotton and Cecile Mantovani GENEVA, Dec 4 (Reuters) – Israel was cleared on Thursday to enter the 2026 Eurovision Song Contest by the organiser, prompting Spain, the Netherlands, Ireland and Slovenia to withdraw over the Gaza war and plunging the competition into one of the biggest rows in its history. The broadcasters who had threatened to boycott the event cited the death count in Gaza and accused Israel of flouting rules meant to guard the contest's neutrality. Israel accuses its critics of mounting a global smear campaign against it. After a meeting in Geneva, the European Broadcasting Union, or EBU, decided not to call a vote on Israel's participation, saying it had instead passed new rules aimed at discouraging governments from influencing the contest. Right after that announcement by the contest organiser, the Dutch, Spanish, Irish and Slovenian broadcasters said they would withdraw, meaning singers from their countries would not compete in the contest that draws millions of viewers worldwide. Ben Robertson, a Eurovision expert from fan website ESC Insight, said the contest's integrity was at its lowest ebb. "Never in the history of the contest have we had such a vote, and such a split, between the member broadcasters of the European Broadcasting Union," he said. Both the Israeli government and opposition leaders celebrated the country's inclusion. Golan Yochpaz, CEO of Israeli broadcaster KAN, likened the efforts to exclude Israel to a form of "cultural boycott." Rounding on the countries withdrawing, Foreign Minister Gideon Saar said on X: "The disgrace is upon them." IRELAND SAYS ITS PARTICIPATION 'UNCONSCIONABLE' The Eurovision Song Contest dates back to 1956 and reaches around 160 million viewers, according to the EBU – more than the almost 128 million recorded for this year's U.S. Super Bowl, according to figures from Nielsen. Israel's participation has divided opinion in the competition that has a history of entanglement in national rivalries, international issues and political voting. Its 2025 entrant, Yuval Raphael, was at the Nova music festival, a target of the October 7, 2023 attack by Palestinian militant group Hamas on Israel that triggered the Gaza war. A total of 1,200 people were killed and 251 taken hostage in the assault by Hamas, according to Israeli tallies. More than 70,000 people have been killed in Gaza in the ensuing conflict, according to health authorities in the enclave. Irish broadcaster RTE said it felt "Ireland's participation remains unconscionable given the appalling loss of lives in Gaza and the humanitarian crisis there which continues to put the lives of so many civilians at risk". Jose Pablo Lopez, head of Spanish state broadcaster RTVE said on X: "What happened in the EBU Assembly confirms that Eurovision is not a song contest but a festival dominated by geopolitical interests and fractured." RTV Slovenija said it together with Spain, Montenegro, the Netherlands, Turkey, Algeria and Iceland requested a secret vote on Israel's participation, but it was not held. Icelandic public broadcaster RUV said its board will make a decision on Wednesday on whether to participate in the next Eurovision, which will be held in Vienna in May. "I feel sad that other countries are not going to compete next year," said 33-year-old Tel Aviv Eurovision fan Jurij Vlasov, adding the Netherlands' song this year was his favorite. In Austria, which backed Israel, Eurovision fans welcomed its inclusion, even as some in Spain took the opposite view. "Why should the population, or a part of the population, not participate?," said Vienna resident Bernhard Kleemann. "If countries decide not to participate because they condemn the government and the prime minister, that's their decision." "BORN FROM THE ASHES OF THE SECOND WORLD WAR" Instead of voting on Israel, the EBU said its members backed rules intended to discourage governments and third parties from disproportionately promoting songs to sway voters after allegations that Israel unfairly boosted its 2025 entrant. "This vote means that all EBU Members who wish to participate in the Eurovision Song Contest 2026 and agree to comply with the new rules are eligible to take part," it said. Israel's President Isaac Herzog thanked his country's supporters, saying he hoped the song contest would continue to champion "culture, music, friendship between nations". Germany, a major Eurovision backer, had signalled it would not take part if Israel was barred. Germany's culture minister Wolfram Weimer told the Bild newspaper he welcomed the decision. "Israel belongs to the Eurovision Song Contest like Germany belongs to Europe," he said. Martin Green, the contest's director, said EBU members showed they wanted to protect the neutrality of the competition. "Eurovision was born from the ashes of the Second World War," he said. "It was designed to bring us together, and it will hit bumps in the road, and we have a complicated world, but we hope it's a temporary situation, and we'll move forward." (Reporting by Olivia Le Poidevin, John Cotton and Cecile Mantovani; Additional reporting by Klaus Lauer, Andreas Rinke and Miranda Murray in Berlin, Emma Pinedo Gonzalez, Sergio Goncalves and Silvio Castellanos in Madrid, Andrei Khalip in Lisbon, Steven Scheer in Jerusalem and Roleen Tafakji in Tel Aviv, Gerhard Mey, Marie-Louise Gumuchian and Sam Tabahriti in London, Charlotte Van Campenhout in Amsterdam, Elviira Luoma in Gdansk, Jacob Gronholt-Pedersen in Copenhagen, Daria Sito-Sucic in Sarajevo, Padraic Halpin in Dublin and Francois Murphy in Vienna Writing by Dave GrahamEditing by Toby Chopra, Alexandra Hudson, Andrew Heavens and Diane Craft)

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By Milana Vinn Dec 4 (Reuters) – Netflix is in exclusive talks to buy Warner Bros Discovery's film and television studios along with its streaming assets after offering $28 per share, a source with direct knowledge of the matter said. The parent of HBO, which has been exploring strategic options, received a second round of bids this week after Netflix, Paramount Skydance and Comcast made preliminary buyout proposals. Netflix, which emerged as the top bidder, made a mostly cash offer, Reuters has previously reported. The $28 per share offer compares with Warner Bros' closing price of $24.54 on Thursday and a previous offer from Paramount of nearly $24 for all of the company's assets that also include cable networks such as CNN, TNT and TBS. Netflix and Warner Bros Discovery did not immediately respond to Reuters requests for comment. STRATEGIC PIVOT Netflix is aggressively diversifying beyond its core subscription model to drive new revenue streams. A deal with Warner Bros, whose franchises include "Harry Potter", "Game of Thrones" and DC Comics, would transform Netflix into a vertically integrated media powerhouse, giving it one of Hollywood's most valuable libraries. Netflix would gain exclusive long-term control over premium intellectual property while reducing its reliance on external studios as it expands into gaming, live entertainment and broader consumer ecosystems. Bloomberg News reported Netflix has offered a $5 billion breakup fee if regulators block the deal and that the companies could announce the agreement within days. The news of a potential deal has prompted a consortium of leading film industry figures to urge the U.S. Congress to intervene if Netflix's bid succeeds, warning of a looming economic and institutional crisis in Hollywood, Variety reported. Paramount has accused Warner Bros of running an unfair sale process that favors Netflix over other bidders, CNBC reported on Thursday, citing a letter sent by its newly merged media company. "We strongly urge you to empower such a special committee comprised of directors with no potential appearance of bias or beholdenness to others whose interests may differ from those of the stockholders," Paramount's legal team was quoted as saying in the letter. Paramount did not immediately respond to Reuters' requests for comment. In October, the Warner Bros board turned down a roughly $60 billion bid from Paramount for the entire company and subsequently launched a formal sales process for its assets. (Reporting by Milana Vinn in New York, Harshita Mary Varghese and Arasu Kannagi Basil in Bengaluru, Juby Babu in Mexico City, and Dawn Chmielewski; Additional reporting by Gursimran Kaur; Editing by Mrigank Dhaniwala, Miyoung Kim and Edwina Gibbs)

(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)

By Milana Vinn Dec 4 (Reuters) – Netflix is in exclusive talks to buy Warner Bros Discovery's film and television studios along with its streaming assets, in a deal valued at $28 per share that could reshape the media landscape, a source told Reuters on Thursday. The streaming giant's proposed acquisition of Warner Bros Discovery's studios and streaming unit is expected to reduce streaming costs for consumers by bundling Netflix and HBO Max. Netflix has emerged as the top bidder for Warner Bros Discovery assets, Reuters reported earlier in the day. Bloomberg News reported that Netflix has offered a $5 billion breakup fee if regulators block the deal. The report added that the companies could announce the agreement within days. CNBC said earlier that Netflix had presented a proposal consisting of 85% cash for the assets it seeks to acquire. Netflix and Warner Bros Discovery did not immediately respond when contacted by Reuters for comment on the CNBC and Bloomberg reports. The news of a potential deal has prompted a consortium of leading film industry figures to urge the U.S. Congress to intervene if Netflix's bid succeeds, warning of looming economic and institutional crisis in Hollywood, Variety reported.  Warner Bros Discovery is seeking another round of bids from suitors by the end of Thursday, according to the Wall Street Journal, after Paramount Skydance reportedly accused Warner Bros Discovery of running an unfair sale process that favors Netflix over other bidders. Warner Bros Discovery reportedly received sweetened offers from potential bidders — Paramount, Comcast and Netflix — earlier this week after it asked them to improve on initial bids submitted in late November.  In the letter to Warner Bros Discovery CEO David Zaslav, Paramount's legal team has raised concerns over the "fairness and adequacy" of the bidding process, citing media reports that indicate Warner Bros Discovery's management favors Netflix's proposal, according to a copy of the letter seen by Reuters.  David Ellison-led Paramount Skydance has requested confirmation on whether Warner Bros Discovery has formed an independent special committee of unbiased board members to evaluate offers and oversee the sale process, according to the letter. "We strongly urge you to empower such a special committee comprised of directors with no potential appearance of bias or beholdenness to others whose interests may differ from those of the stockholders," Paramount's legal team said in the letter. Paramount and Comcast did not immediately respond to Reuters' requests for comment.   Paramount has sought to purchase the entire company. In October, the Warner Bros Discovery board had turned down a roughly $60 billion bid from Paramount and subsequently launched a formal sales process. (Reporting by Milana Vinn in New York, Harshita Mary Varghese and Arasu Kannagi Basil in Bengaluru, Juby Babu in Mexico City, and Dawn Chmielewski, additional reporting by Gursimran Kaur; Editing by Leroy Leo, Maju Samuel and Mrigank Dhaniwala)

(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)