Is the Netflix-Warners Deal Really Such a Disaster?

Yes, the blockbuster $83 billion acquisition of the Warner Bros. studio and HBO Max would decisively end the streaming wars. And the Ellisons can still blow their lids and go hostile. But amid inevitable consolidation and a likely government challenge, is Ted Sarandos getting his hands on a historic studio definitely the end of Hollywood as we know it?

During the expedited process, Netflix operated efficiently and Sarandos effectively leveraged his friendship with Zaslav, who seemed more than eager to extend a middle finger to the overzealous Ellison kid. In the end, Netflix kinda flipped the Ellison strategy and used it against Paramount, moving faster and more cleanly and ultimately offering $27.75 per share ($4.50 of that in stock). Photo: Michael Kovac/Getty Images for AFI