Sports & Entertainment Spotlight

Welcome back to the Spotlight! If you stopped by last week, you might recall that I discussed Netflix and Warner Bros. coming to an agreement for Netflix to acquire the latter’s content production business in a cash and debt deal valued at about $82 billion (or about the GDP of Panama). I mentioned that deal would unquestionably be part of a year end retrospective. What I didn’t anticipate was that Paramount would put forth an all cash $108 billion (about the GDP of Oman—as in the oil-rich nation or “oh man that’s a lot of money”) hostile takeover offer for all of Warner Bros. Discovery. Either deal would result in massive media consolidation and fundamentally change the entertainment business. So it seems the book is not only yet to be closed on that story, but rather we’ve only just begun.

If I could channel the wisdom of my ancestors, like the great King Solomon, I would settle this by cutting WBD down the middle. Instead we’ll just have to wait and see what shakes out—though in the spirit of the season of giving, I wouldn’t be opposed to offering myself as a third buyer. Sure, I don’t have nearly the funds to compete, but what’s a few billion dollars amongst friends?

• • Jay-Z’s MarcyPen Ventures is partnering with Korean firm Hanwha to create a $500 million fund to further fuel the K-culture boom—be it K-pop or bibimbap (the latter of which sounds like it could serve as a bass line on Jay’s next single.
  • With a $1 billion investment in OpenAI’s Disney is bringing 200 of its characters to the video creation platform Sora. So yeah, nothing is sacred anymore.
  • The New York Jets are in the midst of a trademark fight to get trademark protection for “Gotham City Football.” Fitting for their fans who are one losing season away from Arkham Asylum.

For inquiries and/or unabashed compliments, please feel free to contact me at josh.bloomgarden@foster.com or add me on LinkedIn.