Netflix shares drop after Paramount launches hostile takeover bid

‘Owning Manhattan’ has returned for its second season on Netflix, featuring Ryan Serhant as he navigates the challenges of selling high-end real estate while also striving to be a dedicated father. This season highlights a more vulnerable side of Serhant, showcasing his personal and professional struggles.

The entertainment industry is rallying against Netflix's proposed acquisition of Warner Bros. and HBO, with unions and industry groups expressing significant concerns over the potential impact on jobs and the theatrical landscape. This deal, valued at approximately $72 billion, has raised alarms about increased industry concentration and fewer theatrical releases.

Netflix has announced that 'Lupin' Part 4 will premiere in fall 2026, with Omar Sy returning as the gentleman thief Assane Diop. The cast will also include Ludivine Sagnier, Antoine Gouy, Soufiane Guerrab, Shirine Boutella, Théo Christine, and Laïka Blanc-Francard.

Paramount Skydance has launched a hostile takeover bid for Warner Bros. Discovery (WBD), claiming that the valuation of WBD's cable networks, including CNN and TBS, is inflated compared to Netflix's recent deal. Paramount's offer values WBD at approximately $108 billion, suggesting that the current negotiations may not reflect the true worth of these assets.

Netflix Brazil has announced further details regarding the adaptation of Paulo Coelho’s semi-autobiographical novel, 'The Pilgrimage,' with Vicente Amorim set to direct. This project marks a collaboration between Netflix, Amorim, and Gullane, following their success with the acclaimed series 'Senna.'

An HBO Max subscriber has filed a lawsuit against Netflix to block its proposed acquisition of Warner Bros. Discovery, citing concerns over the merger's implications for competition and content diversity. This legal action comes amid rising tensions in the entertainment industry regarding major consolidation efforts.

The creators of 'Stranger Things,' Ross and Matt Duffer, have cast their high school drama teacher, Hope Hynes Love, in a role specifically written for her in the show's fifth season. This decision highlights the Duffer brothers' appreciation for their formative experiences in drama and storytelling during their education.

Paramount has initiated a hostile takeover bid for Warner Bros. Discovery, offering $30 per share, which values the company at approximately $108.4 billion. This aggressive move comes shortly after Netflix secured a $72 billion deal to acquire Warner's studios and streaming unit, intensifying the competition in the media landscape.