BONUS EP: Paramount’s Looming Debt Bomb — With Analyst Robert Fishman

BONUS EP: Paramount’s Looming Debt Bomb — With Analyst Robert Fishman

David Ellison may be calling Paramount’s agreement to delay its $111 billion Warner Bros. Discovery acquisition a “significant win.” Wall Street appears less convinced. Paramount Skydance shares sank to a new low after the company agreed Friday not to close the deal until the antitrust lawsuits brought by 12 state attorneys general and the Writers Guild of America are resolved — or until next June, whichever comes first. The delay starts an expensive clock. Beginning in October, Paramount must pay WBD shareholders roughly $7 million a day, or about $650 million per quarter, while the acquisition remains unfinished. Even a resolution early next year could cost close to $1 billion. A fight stretching to June would push the bill toward $2 billion — on top of the nearly $80 billion in debt the combined company is already expected to carry. “The state AGs are clearly making a lot more noise than they probably were expecting,” MoffettNathanson senior analyst Robert Fishman tells Sean McNulty on a special bonus episode of Ankler Agenda. Learn more about your ad choices. Visit megaphone.fm/adchoices

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The Waiting Game at WBD; SpaceX’s L.A. Mansion Rush

The Waiting Game at WBD; SpaceX’s L.A. Mansion Rush

What a difference a month makes. With Paramount’s bid to buy Warner Bros. Discovery now in limbo, 35,000 Warners staffers have plenty of time to reconsider their options. Could HBO chief Casey Bloys o...

30 Juli 32min

BONUS EP: California AG Rob Bonta on the Coming Paramount Trial: 'We're Not Talking Settlement'

BONUS EP: California AG Rob Bonta on the Coming Paramount Trial: 'We're Not Talking Settlement'

What could Paramount Skydance do to make a dozen attorneys general drop their lawsuit against the Warner Bros. Discovery merger? Sell off CNN? Paramount Pictures? According to California Attorney Gene...

28 Juli 13min

Why A24 Wants Letterboxd — and the Impossible ‘Odyssey’ Ticket

Why A24 Wants Letterboxd — and the Impossible ‘Odyssey’ Ticket

Who’s buying Letterboxd? The social media platform, prized for its Gen Z audience and movie fan bona fides, is on the market for a rumored $250 million — with multiple studios circling. Dealmakers col...

23 Juli 28min

BONUS EP: Rob Bonta: How We Plan to Kill the Paramount-WBD Deal

BONUS EP: Rob Bonta: How We Plan to Kill the Paramount-WBD Deal

States, 1. Paramount, 0. The $111 billion Paramount–Warner Bros. Discovery merger has hit its first real wall after a coalition of 12 states won a temporary restraining order blocking the deal. And Ca...

21 Juli 35min

The Case Against Paramount-Warner — From the People Fighting It

The Case Against Paramount-Warner — From the People Fighting It

It’s a bad week for David Ellison, with Paramount Skydance facing two concurrent lawsuits seeking to block its $111 billion acquisition of Warner Bros. Discovery — plus a shareholder case accusing Ell...

16 Juli 33min

BONUS EP: Netflix’s Next Deal? Spotify Is Hiding in Plain Sight

BONUS EP: Netflix’s Next Deal? Spotify Is Hiding in Plain Sight

Welcome to Netflix’s hard pivot. Faced with lagging engagement from its users and signs of audience disinterest in some of its top shows between seasons, Netflix’s next big thing might be… cable tele...

13 Juli 41min

Nolan’s ‘Odyssey,’ Taylor Swift’s Wedding & the Summer of Spectacle

Nolan’s ‘Odyssey,’ Taylor Swift’s Wedding & the Summer of Spectacle

Monoculture may not be dead after all — it just needed Taylor Swift in a wedding dress and Christopher Nolan in IMAX. Elaine Low, Sean McNulty and Natalie Jarvey break down an old-fashioned July of cu...

9 Juli 33min

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