The Shadow War for the Midterms Has Begun

Why CNN, Not Hollywood, Is the Real Prize in the Netflix–Warner Bros. Battle

On December 4, 2025, headlines framed the outcome of the Warner Bros. Discovery auction as a clean corporate victory. Netflix had emerged with the winning bid, securing Warner Bros.’ studios and streaming crown jewels in a deal valued at roughly $83 billion, while Paramount’s counteroffers were cast as aggressive but ultimately unsuccessful. On the surf…