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By Jaspreet Singh, Anhata Rooprai and Zaheer Kachwala Jan 21 (Reuters) – Nick LaFleur is one of many Americans who think a Netflix-Warner Bros tie-up might provide some relief from "subscription fatigue." The New York City resident has held on to a full poker hand of streaming services – Netflix, Disney+, Apple TV, HBO Max and Paramount+ – even as prices have risen steadily. Netflix on Tuesday switched its nearly $83 billion offer for most of Warner Bros to all-cash to keep Paramount at bay as the two compete for the company's coveted studio and content library. If successful, a Netflix-Warner Bros tie-up could bring the HBO Max streaming service under the same umbrella as Netflix.  LaFleur and others hope that might translate to smaller bills. "The trajectory of streaming prices, whether there is a merger or not, seems to be going up and up," said LaFleur, who works in tech communications. "I would imagine they would not just add the price of HBO Max to Netflix… my expectation is that I could get a discount."  Americans now pay for an average of 2.9 streaming subscriptions despite the rising costs, which now come to $552 a year, according to a Forbes Home survey of 1,000 people published in November. As of June, most HBO Max subscribers had a Netflix subscription – 94%, in fact, according to Bernstein analysts, while 38% of Netflix users had HBO Max. A tie-up could revive streaming's early promise of "everything under one roof" before studios yanked their content to launch rival services.  The downside? The deal could stifle competition and erode HBO's reputation for prestige programming that currently exceeds Netflix's, experts say.  "IT'S A PAIN TO MANAGE SUBSCRIPTIONS" The proliferation of streamers has swamped consumers with content, similar to hundreds of unwatched channels offered by cable TV when the industry was at its peak. About 72% of U.S. consumers said streaming bundles offer better value, while 63% say they feel overwhelmed by the options, according to a Mintel survey of nearly 2,000 people last August. "It's a pain to manage subscriptions," said Orlando-based Frank Weaver, who resorted to buying an app to track them and has canceled some services because of the cost. A report last year from industry tracker Antenna showed the recently introduced discounted bundle of Disney+, Hulu and HBO Max retained 80% of its subscribers after three months, stickier than any of the standalone services. NETFLIX FORMS THE BASIS OF VIEWING PACKAGES For many viewers, Netflix, the global streaming leader with 325 million subscribers, forms the basis of any viewing package.  About 78% of customers chose the service when building a hypothetical custom bundle, placing it ahead of Disney+, Paramount+ and HBO Max, according to a Forrester Research survey of more than 400 adults in the U.S., the UK and Canada published last year. Part of Netflix's argument in its bid for Warner Bros was that the combination may lower costs for consumers and ease regulatory fears, Reuters reported last year. Netflix's standard plan is priced at $17.99 a month, while HBO Max's equivalent tier costs $18.49 and Paramount+'s ad-free Premium plan costs $13.99, according to the companies' websites.  DOING THE OPPOSITE? Netflix scrapped its cheapest ad-free plan, called basic, in 2023, leaving consumers with its more expensive premium and standard plans, as well as the standard plan with ads. The premium plan now costs $24.99 a month, up from $19.99 in 2022, while the standard ad-free plan's price has gone up by more than $2 to $17.99 in the period. Lawmakers have warned that the Netflix-Warner Bros combo could give the combined firm outsized bargaining power. Experts say this could lead to fewer choices, giving Netflix more power to raise its rates, spend less on the kind of quality shows offered by HBO, or both. "Whether the winning bidder is Netflix or Paramount, the worry is whether they will be positioned to pay less for content," said Bill Baer, a visiting fellow at the Brookings Institution and former U.S. assistant attorney general for antitrust under President Barack Obama. "That likely would diminish both the number and the quality of programming and the number of people willing to invest in the creative process." (Reporting by Jaspreet Singh, Zaheer Kachwala, Anhata Rooprai and Harshita Varghese in Bengaluru; Writing by Aditya Soni; Editing by Anil D'Silva)

(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 Jaspreet Singh, Anhata Rooprai and Zaheer Kachwala Jan 21 (Reuters) – Nick LaFleur is one of many Americans who think a Netflix-Warner Bros tie-up might provide some relief from "subscription fatigue." The New York City resident has held on to a full poker hand of streaming services – Netflix, Disney+, Apple TV, HBO Max and Paramount+ – even as prices have risen steadily. Netflix on Tuesday switched its nearly $83 billion offer for most of Warner Bros to all-cash to keep Paramount at bay as the two compete for the company's coveted studio and content library. If successful, a Netflix-Warner Bros tie-up could bring the HBO Max streaming service under the same umbrella as Netflix.  LaFleur and others hope that might translate to smaller bills. "The trajectory of streaming prices, whether there is a merger or not, seems to be going up and up," said LaFleur, who works in tech communications. "I would imagine they would not just add the price of HBO Max to Netflix… my expectation is that I could get a discount."  Americans now pay for an average of 2.9 streaming subscriptions despite the rising costs, which now come to $552 a year, according to a Forbes Home survey of 1,000 people published in November. As of June, most HBO Max subscribers had a Netflix subscription – 94%, in fact, according to Bernstein analysts, while 38% of Netflix users had HBO Max. A tie-up could revive streaming's early promise of "everything under one roof" before studios yanked their content to launch rival services.  The downside? The deal could stifle competition and erode HBO's reputation for prestige programming that currently exceeds Netflix's, experts say.  "IT'S A PAIN TO MANAGE SUBSCRIPTIONS" The proliferation of streamers has swamped consumers with content, similar to hundreds of unwatched channels offered by cable TV when the industry was at its peak. About 72% of U.S. consumers said streaming bundles offer better value, while 63% say they feel overwhelmed by the options, according to a Mintel survey of nearly 2,000 people last August. "It's a pain to manage subscriptions," said Orlando-based Frank Weaver, who resorted to buying an app to track them and has canceled some services because of the cost. A report last year from industry tracker Antenna showed the recently introduced discounted bundle of Disney+, Hulu and HBO Max retained 80% of its subscribers after three months, stickier than any of the standalone services. NETFLIX FORMS THE BASIS OF VIEWING PACKAGES For many viewers, Netflix, the global streaming leader with 325 million subscribers, forms the basis of any viewing package.  About 78% of customers chose the service when building a hypothetical custom bundle, placing it ahead of Disney+, Paramount+ and HBO Max, according to a Forrester Research survey of more than 400 adults in the U.S., the UK and Canada published last year. Part of Netflix's argument in its bid for Warner Bros was that the combination may lower costs for consumers and ease regulatory fears, Reuters reported last year. Netflix's standard plan is priced at $17.99 a month, while HBO Max's equivalent tier costs $18.49 and Paramount+'s ad-free Premium plan costs $13.99, according to the companies' websites.  DOING THE OPPOSITE? Netflix scrapped its cheapest ad-free plan, called basic, in 2023, leaving consumers with its more expensive premium and standard plans, as well as the standard plan with ads. The premium plan now costs $24.99 a month, up from $19.99 in 2022, while the standard ad-free plan's price has gone up by more than $2 to $17.99 in the period. Lawmakers have warned that the Netflix-Warner Bros combo could give the combined firm outsized bargaining power. Experts say this could lead to fewer choices, giving Netflix more power to raise its rates, spend less on the kind of quality shows offered by HBO, or both. "Whether the winning bidder is Netflix or Paramount, the worry is whether they will be positioned to pay less for content," said Bill Baer, a visiting fellow at the Brookings Institution and former U.S. assistant attorney general for antitrust under President Barack Obama. "That likely would diminish both the number and the quality of programming and the number of people willing to invest in the creative process." (Reporting by Jaspreet Singh, Zaheer Kachwala, Anhata Rooprai and Harshita Varghese in Bengaluru; Writing by Aditya Soni; Editing by Anil D'Silva)

(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 Jaspreet Singh, Anhata Rooprai and Zaheer Kachwala Jan 21 (Reuters) – Nick LaFleur is one of many Americans who think a Netflix-Warner Bros tie-up might provide some relief from "subscription fatigue." The New York City resident has held on to a full poker hand of streaming services – Netflix, Disney+, Apple TV, HBO Max and Paramount+ – even as prices have risen steadily. Netflix on Tuesday switched its nearly $83 billion offer for most of Warner Bros to all-cash to keep Paramount at bay as the two compete for the company's coveted studio and content library. If successful, a Netflix-Warner Bros tie-up could bring the HBO Max streaming service under the same umbrella as Netflix.  LaFleur and others hope that might translate to smaller bills. "The trajectory of streaming prices, whether there is a merger or not, seems to be going up and up," said LaFleur, who works in tech communications. "I would imagine they would not just add the price of HBO Max to Netflix… my expectation is that I could get a discount."  Americans now pay for an average of 2.9 streaming subscriptions despite the rising costs, which now come to $552 a year, according to a Forbes Home survey of 1,000 people published in November. As of June, most HBO Max subscribers had a Netflix subscription – 94%, in fact, according to Bernstein analysts, while 38% of Netflix users had HBO Max. A tie-up could revive streaming's early promise of "everything under one roof" before studios yanked their content to launch rival services.  The downside? The deal could stifle competition and erode HBO's reputation for prestige programming that currently exceeds Netflix's, experts say.  "IT'S A PAIN TO MANAGE SUBSCRIPTIONS" The proliferation of streamers has swamped consumers with content, similar to hundreds of unwatched channels offered by cable TV when the industry was at its peak. About 72% of U.S. consumers said streaming bundles offer better value, while 63% say they feel overwhelmed by the options, according to a Mintel survey of nearly 2,000 people last August. "It's a pain to manage subscriptions," said Orlando-based Frank Weaver, who resorted to buying an app to track them and has canceled some services because of the cost. A report last year from industry tracker Antenna showed the recently introduced discounted bundle of Disney+, Hulu and HBO Max retained 80% of its subscribers after three months, stickier than any of the standalone services. NETFLIX FORMS THE BASIS OF VIEWING PACKAGES For many viewers, Netflix, the global streaming leader with 325 million subscribers, forms the basis of any viewing package.  About 78% of customers chose the service when building a hypothetical custom bundle, placing it ahead of Disney+, Paramount+ and HBO Max, according to a Forrester Research survey of more than 400 adults in the U.S., the UK and Canada published last year. Part of Netflix's argument in its bid for Warner Bros was that the combination may lower costs for consumers and ease regulatory fears, Reuters reported last year. Netflix's standard plan is priced at $17.99 a month, while HBO Max's equivalent tier costs $18.49 and Paramount+'s ad-free Premium plan costs $13.99, according to the companies' websites.  DOING THE OPPOSITE? Netflix scrapped its cheapest ad-free plan, called basic, in 2023, leaving consumers with its more expensive premium and standard plans, as well as the standard plan with ads. The premium plan now costs $24.99 a month, up from $19.99 in 2022, while the standard ad-free plan's price has gone up by more than $2 to $17.99 in the period. Lawmakers have warned that the Netflix-Warner Bros combo could give the combined firm outsized bargaining power. Experts say this could lead to fewer choices, giving Netflix more power to raise its rates, spend less on the kind of quality shows offered by HBO, or both. "Whether the winning bidder is Netflix or Paramount, the worry is whether they will be positioned to pay less for content," said Bill Baer, a visiting fellow at the Brookings Institution and former U.S. assistant attorney general for antitrust under President Barack Obama. "That likely would diminish both the number and the quality of programming and the number of people willing to invest in the creative process." (Reporting by Jaspreet Singh, Zaheer Kachwala, Anhata Rooprai and Harshita Varghese in Bengaluru; Writing by Aditya Soni; Editing by Anil D'Silva)

(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 Jaspreet Singh, Anhata Rooprai and Zaheer Kachwala Jan 21 (Reuters) – Nick LaFleur is one of many Americans who think a Netflix-Warner Bros tie-up might provide some relief from "subscription fatigue." The New York City resident has held on to a full poker hand of streaming services – Netflix, Disney+, Apple TV, HBO Max and Paramount+ – even as prices have risen steadily. Netflix on Tuesday switched its nearly $83 billion offer for most of Warner Bros to all-cash to keep Paramount at bay as the two compete for the company's coveted studio and content library. If successful, a Netflix-Warner Bros tie-up could bring the HBO Max streaming service under the same umbrella as Netflix.  LaFleur and others hope that might translate to smaller bills. "The trajectory of streaming prices, whether there is a merger or not, seems to be going up and up," said LaFleur, who works in tech communications. "I would imagine they would not just add the price of HBO Max to Netflix… my expectation is that I could get a discount."  Americans now pay for an average of 2.9 streaming subscriptions despite the rising costs, which now come to $552 a year, according to a Forbes Home survey of 1,000 people published in November. As of June, most HBO Max subscribers had a Netflix subscription – 94%, in fact, according to Bernstein analysts, while 38% of Netflix users had HBO Max. A tie-up could revive streaming's early promise of "everything under one roof" before studios yanked their content to launch rival services.  The downside? The deal could stifle competition and erode HBO's reputation for prestige programming that currently exceeds Netflix's, experts say.  "IT'S A PAIN TO MANAGE SUBSCRIPTIONS" The proliferation of streamers has swamped consumers with content, similar to hundreds of unwatched channels offered by cable TV when the industry was at its peak. About 72% of U.S. consumers said streaming bundles offer better value, while 63% say they feel overwhelmed by the options, according to a Mintel survey of nearly 2,000 people last August. "It's a pain to manage subscriptions," said Orlando-based Frank Weaver, who resorted to buying an app to track them and has canceled some services because of the cost. A report last year from industry tracker Antenna showed the recently introduced discounted bundle of Disney+, Hulu and HBO Max retained 80% of its subscribers after three months, stickier than any of the standalone services. NETFLIX FORMS THE BASIS OF VIEWING PACKAGES For many viewers, Netflix, the global streaming leader with 325 million subscribers, forms the basis of any viewing package.  About 78% of customers chose the service when building a hypothetical custom bundle, placing it ahead of Disney+, Paramount+ and HBO Max, according to a Forrester Research survey of more than 400 adults in the U.S., the UK and Canada published last year. Part of Netflix's argument in its bid for Warner Bros was that the combination may lower costs for consumers and ease regulatory fears, Reuters reported last year. Netflix's standard plan is priced at $17.99 a month, while HBO Max's equivalent tier costs $18.49 and Paramount+'s ad-free Premium plan costs $13.99, according to the companies' websites.  DOING THE OPPOSITE? Netflix scrapped its cheapest ad-free plan, called basic, in 2023, leaving consumers with its more expensive premium and standard plans, as well as the standard plan with ads. The premium plan now costs $24.99 a month, up from $19.99 in 2022, while the standard ad-free plan's price has gone up by more than $2 to $17.99 in the period. Lawmakers have warned that the Netflix-Warner Bros combo could give the combined firm outsized bargaining power. Experts say this could lead to fewer choices, giving Netflix more power to raise its rates, spend less on the kind of quality shows offered by HBO, or both. "Whether the winning bidder is Netflix or Paramount, the worry is whether they will be positioned to pay less for content," said Bill Baer, a visiting fellow at the Brookings Institution and former U.S. assistant attorney general for antitrust under President Barack Obama. "That likely would diminish both the number and the quality of programming and the number of people willing to invest in the creative process." (Reporting by Jaspreet Singh, Zaheer Kachwala, Anhata Rooprai and Harshita Varghese in Bengaluru; Writing by Aditya Soni; Editing by Anil D'Silva)

(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 Zaheer Kachwala Jan 21 (Reuters) – Netflix's co-CEOs devoted much of the streaming pioneer's post-earnings call defending their decision to splurge nearly $83 billion on Warner Bros' assets, marking a significant departure from the company's long-standing mantra: build, don't buy. Investors, however, aren't buying it. Shares of Netflix fell more than 6% in trading before the bell on Wednesday after the company paused share buybacks to help fund the deal and said that it had already incurred $60 million in costs related to securing financing. Making a compelling case for why Netflix wanted Warner Bros Discovery's studio and streaming assets, co-CEO Ted Sarandos said, "YouTube is not just user-generated content and cat videos anymore." He noted how tech giants such as Alphabet's YouTube had changed what television viewing meant and forced Netflix to change tack to keep up. "TV is not what we grew up on … Oscars and the NFL are on YouTube. Networks are simulcasting the Super Bowl on linear TV and streaming. Amazon owns MGM. Apple is competing for Emmys and Oscars, and Instagram is coming next," he said. "They are TV. So we all compete with them in every dimension, for talent, for ad dollars, for subscription dollars, and for all forms of content." Sarandos and co-CEO Greg Peters spent a large portion of the post-earnings call talking effusively about how strong and complementary Warner Bros' services were, a sharp change from the long-held company credo: build, don't buy. Having offered $82.7 billion in cash to buy Warner Bros' film and television studios, its extensive content library and major entertainment franchises – including "Game of Thrones" and "Harry Potter" – Netflix is embroiled in a bidding war with Paramount Skydance.  Netflix's co-CEOs had not thought they would make an offer for the assets when they first started the due diligence process on Warner Bros, they said. "When we got into the hood, there were several things we saw that were just really exciting," Peters said. "We have often in our Netflix history debated building a theatrical business, but we were busy investing in other areas, and it never became our priority. But now with Warner Bros, they bring a mature, well-run theatrical business with amazing films, and we're super excited about that addition," he said, in a reversal of Netflix's former position that theaters were an outdated model with audiences preferring stay-at-home streaming.  "And then you get to the streaming side of things, HBO. It is an amazing brand. It says prestige TV is better than almost anything. Customers know it. They love it. They know what it means," Peters said, adding that Warner's television studio was also a healthy business and complemented Netflix's own, expanding its production capability. INVESTORS ARE NOT CONVINCED With the expensive deal hanging over its head, Netflix delivered a tepid revenue beat for what is usually one of its strongest quarters, and forecast equally dull prospects for the new year. While a strong content line-up, including the final season of hit sci-fi series "Stranger Things," helped revenue growth, high costs associated with the Warner Bros acquisition have made people apprehensive about the long-term payoff, analysts said.  Netflix said previously that it had obtained commitments for a $59 billion bridge loan to support the Warner Bros' deal. On Tuesday, it increased the bridge loan commitment by $8.2 billion to support its all-cash $27.75 per share offer. The deal is expected to face considerable scrutiny from lawmakers and competition regulators as high-profile acquisitions threaten to monopolize the market and leave consumers with fewer choices.  But Sarandos on Tuesday moved to ease those concerns by reiterating the deal would be "pro-consumer" and "pro-worker", and that the acquired businesses would require new teams and would allow more opportunities for creatives.  The deal "allows us to gain access to 100 years of Warner Bros deep content and IP for development and distribution in more effective ways that will benefit consumers and the industry as a whole," he said. (Reporting by Zaheer Kachwala in Bengaluru; Editing by Sayantani Ghosh and Anil D'Silva)

(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 Danielle Broadway Jan 20 (Reuters) – Actor-director Timothy Busfield, known for roles in "The West Wing" and "Field of Dreams," was ordered to be released from jail on Tuesday as he awaits further proceedings on child sexual abuse charges after a New Mexico judge called the evidence against him "neutral." Prosecutors allege Busfield, who is married to actor Melissa Gilbert, improperly touched two young cast members – twin boys – while directing the Fox TV drama "The Cleaning Lady," which was filmed in New Mexico. Busfield, 68, turned himself in last week after prosecutors in Albuquerque filed a criminal complaint charging him with child abuse and two counts of criminal sexual contact with a minor. He has professed his innocence, calling the allegations against him "lies." "As it stands today, with the limited information I have in front of me, I'll characterize the weight of the evidence against the defendant as neutral at this point," Judge David Murphy said at a court hearing on Tuesday.  The judge ordered Busfield released from custody pending further proceedings in the case. A preliminary hearing was scheduled for January 29, during which prosecutors will need to establish probable cause to proceed to a trial. According to an arrest warrant affidavit that accompanied the criminal complaint, the twin boys, now 11, reported the alleged contact occurred over a two-year period, when they were aged 7 and 8. Busfield was an executive producer of the show and began directing episodes around the end of the second season in 2022.   Deputy District Attorney Savannah Brandenburg-Koch told the court on Tuesday that a hospital doctor first contacted law enforcement in November 2024 after the boys told the physician that Busfield had engaged in behavior that could be characterized as "grooming." But she said the boys alleged acts of actual sexual abuse to a therapist in September 2025.     Defense lawyer, Christopher Dodd, countered that the twins had denied they were sexually abused by Busfield under questioning from a law enforcement officer. In the recording of the interview, which was played in court, the officer asks each of the boys if they had been "touched in private areas" by Busfield, and the boys both say, "no." The judge said later during the hearing that it's "not uncommon" for children who are alleged victims to initially deny sexual abuse. Dodd also described the boys' mother and father as "scam artists" in court, saying the parents wanted "revenge" on the director after the twins were removed from the series cast. Called as a witness by the defense, Allan Cabillo, director of photography for "The Cleaning Lady," said he never observed Busfield behaving inappropriately with the boys. He said the boys did not return for the show's final season because they had aged out of their roles. In a video posted online shortly before his surrender, Busfield denied the allegations, saying, "I did not do anything to those little boys." Busfield is known for his prime-time television roles as a White House reporter on the NBC political drama "The West Wing," which ran from 1999 to 2006, and as an ad agency executive on the 1980s ABC ensemble series "Thirtysomething." In the 1989 movie "Field of Dreams," he played the brother-in-law of Kevin Costner's lead character. In his own interview with police for the investigation in November, Busfield acknowledged he probably had physical contact with the boys on occasion, like tickling or picking them up, but in a playful manner with others present, the affidavit said. (Reporting by Danielle Broadway in Los Angeles; Additional reporting by Evan Garcia; Editing by Steve Gorman and Howard Goller)

(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 Zaheer Kachwala Jan 21 (Reuters) – "YouTube is not just user-generated content and cat videos anymore," Netflix CEO Ted Sarandos said on Tuesday. Making a compelling case for why the streaming giant wanted Warner Bros Discovery's studio and streaming assets, Sarandos noted how tech giants such as Alphabet's YouTube had changed what television viewing meant and forced Netflix to change tack to keep up. "TV is not what we grew up on … Oscars and the NFL are on YouTube. Networks are simulcasting the Super Bowl on linear TV and streaming. Amazon owns MGM. Apple is competing for Emmys and Oscars, and Instagram is coming next," he said. "They are TV. So we all compete with them in every dimension, for talent, for ad dollars, for subscription dollars, and for all forms of content." Sarandos and his co-CEO Greg Peters spent a large portion of the post-earnings call talking effusively about how strong and complementary Warner Bros' services were, a sharp change from the long-held company credo: build, don't buy. Having offered $82.7 billion in cash to buy Warner Bros' film and television studios, its extensive content library and major entertainment franchises – including "Game of Thrones" and "Harry Potter" – Netflix is embroiled in a bidding war with Paramount Skydance.  Netflix's co-CEOs had not thought they would make an offer for the assets when they first started the due diligence process on Warner Bros, they said. "When we got into the hood, there were several things we saw that were just really exciting," Peters said. "We have often in our Netflix history debated building a theatrical business, but we were busy investing in other areas, and it never became our priority. But now with Warner Bros, they bring a mature, well-run theatrical business with amazing films, and we're super excited about that addition," he said, in a reversal of Netflix's former position that theaters were an outdated model with audiences preferring stay-at-home streaming.  "And then you get to the streaming side of things, HBO. It is an amazing brand. It says prestige TV is better than almost anything. Customers know it. They love it. They know what it means," Peters said, adding that Warner's television studio was also a healthy business and complemented Netflix's own, expanding its production capability. INVESTORS ARE NOT CONVINCED With the expensive deal hanging over its head, Netflix delivered a tepid revenue beat for what is usually one of its strongest quarters, and forecast equally dull prospects for the new year. The company's stock fell nearly 6% premarket on Wednesday. While a strong content line-up, including the final season of hit sci-fi series "Stranger Things," helped revenue growth, high costs associated with the Warner Bros acquisition have made people apprehensive about the long-term payoff, analysts said.  Netflix said previously that it had obtained commitments for a $59 billion bridge loan to support the Warner Bros' deal. On Tuesday, it increased the bridge loan commitment by $8.2 billion to support its all-cash $27.75 per share offer. Netflix also told investors it would pause share buybacks to help fund the Warner Bros' deal, and that it has already incurred $60 million in costs related to securing financing. The deal is expected to face considerable scrutiny from lawmakers and competition regulators as high-profile acquisitions threaten to monopolize the market and leave consumers with fewer choices.  But Sarandos on Tuesday moved to ease those concerns by reiterating the deal would be "pro-consumer" and "pro-worker", and that the acquired businesses would require new teams and would allow more opportunities for creatives.  The deal "allows us to gain access to 100 years of Warner Bros deep content and IP for development and distribution in more effective ways that will benefit consumers and the industry as a whole," he said. (Reporting by Zaheer Kachwala in Bengaluru; Editing by Sayantani Ghosh and Anil D'Silva)

(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 Zaheer Kachwala Jan 21 (Reuters) – "YouTube is not just user-generated content and cat videos anymore," Netflix CEO Ted Sarandos said on Tuesday. Making a compelling case for why the streaming giant wanted Warner Bros Discovery's studio and streaming assets, Sarandos noted how tech giants such as Alphabet's YouTube had changed what television viewing meant and forced Netflix to change tack to keep up. "TV is not what we grew up on … Oscars and the NFL are on YouTube. Networks are simulcasting the Super Bowl on linear TV and streaming. Amazon owns MGM. Apple is competing for Emmys and Oscars, and Instagram is coming next," he said. "They are TV. So we all compete with them in every dimension, for talent, for ad dollars, for subscription dollars, and for all forms of content." Sarandos and his co-CEO Greg Peters spent a large portion of the post-earnings call talking effusively about how strong and complementary Warner Bros' services were, a sharp change from the long-held company credo: build, don't buy. Having offered $82.7 billion in cash to buy Warner Bros' film and television studios, its extensive content library and major entertainment franchises – including "Game of Thrones" and "Harry Potter" – Netflix is embroiled in a bidding war with Paramount Skydance.  Netflix's co-CEOs had not thought they would make an offer for the assets when they first started the due diligence process on Warner Bros, they said. "When we got into the hood, there were several things we saw that were just really exciting," Peters said. "We have often in our Netflix history debated building a theatrical business, but we were busy investing in other areas, and it never became our priority. But now with Warner Bros, they bring a mature, well-run theatrical business with amazing films, and we're super excited about that addition," he said, in a reversal of Netflix's former position that theaters were an outdated model with audiences preferring stay-at-home streaming.  "And then you get to the streaming side of things, HBO. It is an amazing brand. It says prestige TV is better than almost anything. Customers know it. They love it. They know what it means," Peters said, adding that Warner's television studio was also a healthy business and complemented Netflix's own, expanding its production capability. INVESTORS ARE NOT CONVINCED With the expensive deal hanging over its head, Netflix delivered a tepid revenue beat for what is usually one of its strongest quarters, and forecast equally dull prospects for the new year. The company's stock fell nearly 6% premarket on Wednesday. While a strong content line-up, including the final season of hit sci-fi series "Stranger Things," helped revenue growth, high costs associated with the Warner Bros acquisition have made people apprehensive about the long-term payoff, analysts said.  Netflix said previously that it had obtained commitments for a $59 billion bridge loan to support the Warner Bros' deal. On Tuesday, it increased the bridge loan commitment by $8.2 billion to support its all-cash $27.75 per share offer. Netflix also told investors it would pause share buybacks to help fund the Warner Bros' deal, and that it has already incurred $60 million in costs related to securing financing. The deal is expected to face considerable scrutiny from lawmakers and competition regulators as high-profile acquisitions threaten to monopolize the market and leave consumers with fewer choices.  But Sarandos on Tuesday moved to ease those concerns by reiterating the deal would be "pro-consumer" and "pro-worker", and that the acquired businesses would require new teams and would allow more opportunities for creatives.  The deal "allows us to gain access to 100 years of Warner Bros deep content and IP for development and distribution in more effective ways that will benefit consumers and the industry as a whole," he said. (Reporting by Zaheer Kachwala in Bengaluru; Editing by Sayantani Ghosh and Anil D'Silva)

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By Danielle Broadway Jan 20 (Reuters) – Actor-director Timothy Busfield, known for roles in "The West Wing" and "Field of Dreams," was ordered to be released from jail on Tuesday as he awaits further proceedings on child sexual abuse charges after a New Mexico judge called the evidence against him "neutral." Prosecutors allege Busfield, who is married to actor Melissa Gilbert, improperly touched two young cast members – twin boys – while directing the Fox TV drama "The Cleaning Lady," which was filmed in New Mexico. Busfield, 68, turned himself in last week after prosecutors in Albuquerque filed a criminal complaint charging him with child abuse and two counts of criminal sexual contact with a minor. He has professed his innocence, calling the allegations against him "lies." "As it stands today, with the limited information I have in front of me, I'll characterize the weight of the evidence against the defendant as neutral at this point," Judge David Murphy said at a court hearing on Tuesday.  The judge ordered Busfield released from custody pending further proceedings in the case. A preliminary hearing was scheduled for January 29, during which prosecutors will need to establish probable cause to proceed to a trial. According to an arrest warrant affidavit that accompanied the criminal complaint, the twin boys, now 11, reported the alleged contact occurred over a two-year period, when they were aged 7 and 8. Busfield was an executive producer of the show and began directing episodes around the end of the second season in 2022.   Deputy District Attorney Savannah Brandenburg-Koch told the court on Tuesday that a hospital doctor first contacted law enforcement in November 2024 after the boys told the physician that Busfield had engaged in behavior that could be characterized as "grooming." But she said the boys alleged acts of actual sexual abuse to a therapist in September 2025.     Defense lawyer, Christopher Dodd, countered that the twins had denied they were sexually abused by Busfield under questioning from a law enforcement officer. In the recording of the interview, which was played in court, the officer asks each of the boys if they had been "touched in private areas" by Busfield, and the boys both say, "no." The judge said later during the hearing that it's "not uncommon" for children who are alleged victims to initially deny sexual abuse. Dodd also described the boys' mother and father as "scam artists" in court, saying the parents wanted "revenge" on the director after the twins were removed from the series cast. Called as a witness by the defense, Allan Cabillo, director of photography for "The Cleaning Lady," said he never observed Busfield behaving inappropriately with the boys. He said the boys did not return for the show's final season because they had aged out of their roles. In a video posted online shortly before his surrender, Busfield denied the allegations, saying, "I did not do anything to those little boys." Busfield is known for his prime-time television roles as a White House reporter on the NBC political drama "The West Wing," which ran from 1999 to 2006, and as an ad agency executive on the 1980s ABC ensemble series "Thirtysomething." In the 1989 movie "Field of Dreams," he played the brother-in-law of Kevin Costner's lead character. In his own interview with police for the investigation in November, Busfield acknowledged he probably had physical contact with the boys on occasion, like tickling or picking them up, but in a playful manner with others present, the affidavit said. (Reporting by Danielle Broadway in Los Angeles; Additional reporting by Evan Garcia; Editing by Steve Gorman and Howard Goller)

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By Dawn Chmielewski LOS ANGELES, Jan 20 (Reuters) – Netflix has switched to an all-cash offer for Warner Bros Discovery's studio and streaming assets without increasing the $82.7 billion price in a bid to shut the door on Paramount's rival efforts to snag the Hollywood giant. The new all-cash bid – at $27.75 a share – has unanimous support from the Warner Bros board, according to a Tuesday regulatory filing. Both Netflix and Paramount Skydance covet Warner Bros for its leading film and television studios, extensive content library and major franchises such as "Game of Thrones," "Harry Potter" and DC Comics' superheroes Batman and Superman. Paramount has altered its terms and engaged in an aggressive media campaign to try to convince shareholders that its bid is superior, but Warner Bros has spurned the David Ellison-led company. It declined to comment Tuesday on Netflix's all-cash offer. Warner Bros will hold a special investor meeting to vote on the Netflix deal, with the streaming pioneer saying that the meeting was expected to be held by April. "Our revised all-cash agreement will enable an expedited timeline to a stockholder vote and provide greater financial certainty," Netflix co-CEO Ted Sarandos said in a statement. Shares of Netflix, which is slated to report quarterly earnings after the market close, were up 0.9%. Paramount shares were down 1.9%, while Warner Bros' shares down 0.5% in early trading.  Alex Fitch, portfolio manager for Harris Oakmark, the fifth largest investor in Warner Bros with about 96 million shares as of Sept 30, predicted the bidding war for Warner Bros may not be over. "This new agreement only ramps up the pressure," said Fitch. "The changes show that Netflix is serious about winning, and the accelerated shareholder vote means Paramount needs to act with urgency. Now, it is up to Paramount to provide a clearly superior offer if they want to get this done.” EARLIER CASH-AND-STOCK BID REPLACED Netflix shares have fallen almost 15% since announcing the merger on December 5, closing at $88 per share on Friday – well below the $97.91 floor price of the original bid. That drop was part of Paramount's argument that its bid was superior. The new $27.75-per-share offer from Netflix replaces its earlier cash-and-stock bid for $23.25 in cash and $4.50 in Netflix stock. "The merger consideration is a fixed cash amount to be paid by an investment-grade company, providing (Warner Bros) stockholders with certainty of value and liquidity immediately upon closing the merger," Warner Bros said.  The company's board also disclosed its valuation for Discovery Global, a planned spin-off that will contain television assets including CNN and TNT Sports and the Discovery+ streaming service.  The board has maintained that the Netflix merger deal is superior to Paramount Skydance's $30-per-share cash bid for the company because Warner Bros' investors would retain a stake in the separately traded Discovery Global. Warner Bros' advisers used three separate approaches for valuing Discovery Global. The lowest share price they arrived at was $1.33 per share, by applying a single value across the whole company. The high end of the range they determined was a price of $6.86 a share, if the spin-off became involved in a future deal. Paramount has said the cable spinoff central to the streaming giant's offer is effectively worthless. PARAMOUNT TENDER EXPIRES JAN 21 The rival bidder went to court on January 12 to expedite the disclosure of this information, so investors could evaluate the competing offers for Warner Bros. A Delaware court judge rejected the request, finding that Paramount had failed to demonstrate it would suffer irreparable harm from the alleged inadequate disclosures about Warner Bros' cable TV business. Paramount Skydance, whose tender offer expires on January 21, did not immediately respond to a Reuters request for comment. "Paramount will make another appeal to shareholders. Unless Paramount raises its bid, the appeal will be window dressing," Emarketer analyst Ross Benes said. The race is expected to come to a head at a shareholder vote later this year as Warner investors weigh the value of cable assets. Warner Bros reiterated its reasons for rejecting the Paramount bid, saying its all-cash offer of $30 a share was insufficient after factoring in the "price and numerous risks, costs and uncertainties." “Netflix’s move to go all‑cash on the Warner Bros. deal is a smart pivot at a time when its own falling share price had begun to weaken its hand," said Matt Britzman, senior equity analyst, Hargreaves Lansdown. "A cash bid strips away uncertainty and is unquestionably more appealing from Warner Bros.’ perspective, even if it does nothing to ease regulatory scrutiny." A merger with Netflix would leave the combined company with roughly $85 billion in debt, compared with $87 billion for Paramount. But Netflix is worth considerably more, with a market valuation of $402 billion, compared with $12.6 billion for Paramount. The Netflix tie-up would be less leveraged – carrying a leverage ratio of under four – than a ratio of about seven with Paramount. Netflix also agreed to allow Warner Bros to reduce the amount of indebtedness to be borne by Discovery Global by $260 million, according to the regulatory filing. Netflix also has an investment-grade credit rating, whereas Paramount's bonds are rated at junk levels by S&P and would likely come under further pressure, Warner Bros said in its filing. Winning over shareholders' approval, however, may only be the first step in what could be a long process, given lawmakers across ⁠the political spectrum have ​voiced concerns that further media consolidation could drive up prices and reduce consumer choice. The Ellisons have argued that their relationship with President Donald Trump gives them an easier regulatory path to approval.  (Reporting by Dawn Chmielewski in Los Angeles, additional reporting by Aditya Soni and Harshita Varghese in Bengaluru, and Ross Kerber in Boston; editing by Dawn Kopecki, David Gregorio and Nick Zieminski)

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