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Five Things We’re Getting Wrong About Warner Bros.′ Netflix Deal

Donald Trump doesn’t decide who gets to buy Warner Bros. -- yet

Ted Sarandos, president and co-chief executive office of Netflix Inc.Photographer: David Paul Morris/Bloomberg

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By Lucas Shaw

December 14, 2025 at 11:00 PM UTC

Good afternoon from Los Angeles. I am about to disappear to Europe for 10 days, but the newsletter continues. We will examine the results of our year-end poll and present some new research to close out the year.

Thank you to NBC Nightly News, Pod Save America, Canada’s version of The Daily and NPR’s 1A for hosting me this week to discuss the Warner Bros. deal mishegoss.