Weekly News #19 | Updates Worth Your Attention  👀

There is still no resolution to the long-running uncertainty surrounding the sale of Warner Bros. Discovery. Immediately after Netflix announced its plan to acquire the company for $82.7 billion, Paramount launched a hostile takeover bid worth $108.4 billion. Paramount has submitted the offer directly to shareholders and shows no signs of backing down.

Following Netflix’s announcement, there was widespread speculation about how such a massive acquisition would be interpreted by the U.S. Federal Trade Commission (FTC), the agency responsible for preventing monopolies. The fact that Paramount’s CEO, David Ellison, is the son of Larry Ellison, founder of tech giant Oracle and known for his close ties to President Trump, may increase the likelihood of a decision in Paramount’s favor.

CNBC → 

Rumours suggest that Meta will scale back its Metaverse ambitions in the new year and implement a 30% budget cut. According to Bloomberg, investors are happy about the apparent retreat from Metaverse, a project that has burned $60 billion since its announcement in 2020, and Meta’s shares increased by 4% following the news.

Meanwhile, Meta’s acquisition of wearable tech company Limitless this week makes it clear that the company is steering its strategy toward wearables and artificial intelligence.

TechCrunch → | Reuters →