alt.hn

3/6/2026 at 9:07:43 PM

The worst acquisition in history, again

 https://www.profgmedia.com/p/the-worst-acquisition-in-history

by JumpCrisscross

3/6/2026 at 10:12:27 PM

> With his new toy having a leverage ratio north of 6x, David Ellison has promised $6 billion in “synergies” within three years. (Netflix Co-CEO Ted Sarandos put the figure closer to $16 billion, after examining WBD’s books.

What is it that these CEOs think they are seeing, that everyone else is missing? I can believe they have inflated egos, but they’re not totally crazy, right? My impression is that Netflix is fairly sober and results oriented, so I’m confused by the whole thing.

by pinkmuffinere

3/6/2026 at 10:32:49 PM

They're buying control of narrative on issues they care about; the history of media is mostly that. Newspapers were kind of invented for that reason. Our ideas of ethics in journalism are fairly modern.

by bluegatty

3/6/2026 at 11:12:27 PM

Indeed Edgar Allan Poe had a thing or two to say about newspapers. https://poestories.com/quotes.php (and scroll down a bit).

> “We should bear in mind that, in general, it is the object of our newspapers rather to create a sensation — to make a point — than to further the cause of truth.”

by butterisgood

3/7/2026 at 1:44:37 AM

We as citizens are supposed to keep ourselves informed and vote on things. Very few of us can fly all over the world to see things with our own two eyes so we have to outsource this fact finding. Priests, journalists, the goddamn CIA- they all have agendas.

by PearlRiver

3/6/2026 at 10:48:09 PM

Rich people don't buy media companies because this is the best business in the world. Quite the opposite, most media companies are mediocre or lose money. They do this because of the political clout they get with the control of these media properties.

by coliveira

3/6/2026 at 11:05:36 PM

> They do this because of the political clout they get with the control of these media properties

Bezos bought the Post for clout. Ellison (and his investors) are buying Warner Brothers first and foremost to make money.

by JumpCrisscross

3/7/2026 at 4:01:17 AM

As the article shows, the most probable result of buying Warner Bros will be another loss. Which won't stop more people from buying it again later.

by coliveira

3/7/2026 at 6:36:54 PM

> the most probable result of buying Warner Bros will be another loss

Sure. The same goes for most bunker-buster LBOs. Doesn’t mean the sponsors are doing it with the expectation of losing money.

by JumpCrisscross

3/7/2026 at 1:19:15 AM

[dead]

by onetokeoverthe

3/6/2026 at 10:26:50 PM

Succession planning.

This appears to be Larry Ellison trying to manage succession for his kids. We'll probably see a second major acquisition like this for Megan (who tends to be more progressive leaning) [edit: I was right. Megan Ellison is making moves as well now [0]]

Larry would not be able to do something similar at Oracle today (definitely in the 2000s though), as by the 2010s operational control at Oracle increasingly shifted to operators like Catz, Hurd, and Kurian. It also would have led to bad blood à la the Murdochs.

One heir cultivating the right wing (David) and the other heir cultivating the progressive wing (Megan) buys a level of political impunity for the next generation that is hard to come by.

[0] - https://www.hollywoodreporter.com/movies/movie-news/megan-el...

by alephnerd

3/7/2026 at 2:18:39 PM

You're consistently the only person that I see writing anything of sense on this platform -- are you on any others?

by financltravsty

3/6/2026 at 10:13:02 PM

Layoffs as you consolidate operations between enterprises. See Capital One laying off thousands at Discover Financial after their acquisition.

Capital One to lay off more than 1,100 in latest cuts at Discover Financial HQ - https://news.ycombinator.com/item?id=47270442 - March 2026

by toomuchtodo

3/6/2026 at 11:06:29 PM

> that everyone else is missing?

To be fair, sometimes they do. Musk saw genuine bloat at Twitter. I’m doubtful one can optimize that much out of WarnerBrothers. But Hollywood isn’t exactly known for being efficient.

by JumpCrisscross

3/7/2026 at 7:36:30 AM

Very hard for me to believe Musk didn’t overpay for Twitter. So whatever he saw, I don’t think was there. Hard to know completely for sure given it is private. But I strongly suspect that money definitely would be making him more in passive investments.

If the argument is that it was a stupid business decision, but he had other motives (clout, etc…), sure whatever.

by jaredklewis

3/8/2026 at 3:51:35 AM

> hard for me to believe Musk didn’t overpay for Twitter

At the time? Probably. With the benefit of hindsight? Probably not. Twitter would have made a killing on its own licensing its data to AI companies.

by JumpCrisscross

3/6/2026 at 11:18:23 PM

Ya, I totally agree, given that both CEOs see some significant value here, and I trust one to be fairly calculated, I assume they’re at least partially correct. But I sincerely don’t know _what_ they think they see. If it’s just layoffs, then why doesn’t WBD see the same thing and do the layoffs themselves? If it’s IP, then why do shareholders disagree? Wtf is it, lol

by pinkmuffinere

3/7/2026 at 12:32:22 PM

> Musk saw genuine bloat at Twitter.

I'm reminded of a saying: "Just because they are out to get you, doesn't mean you're not paranoid."

That he was able to cut a lot from Twitter, doesn't mean he cut wisely, for reasons connected with reality. It survived the loss of teams dedicated to ongoing feature development, but the loss of teams dedicated to community management appears (from the outside) to have been the proximal cause of the loss of trust that many advertisers, users, and governments have had with the company. Cutting both at the same time suggests the action was not done from a place of wisdom, but rather that it was luck one of the cuts wasn't critical.

(This is what I expect given a Muntzing strategy: discover which components are load-baring by seeing what happens when they are removed. But when did I learn about Muntzing, and was it after Musk did his thing with Twitter?)

by ben_w

3/7/2026 at 12:28:12 PM

Musk saw bloat at Twitter but made it instantly unprofitable? I see the logic, but not sure about it.

by bluegatty

3/7/2026 at 6:14:51 AM

I mean he bought Twitter for clout / soft power, the business is mostly irrelevant.

He arguably single handedly shifted the entire Overton window in the US to the right, and got his preferred candidate elected.

It's reasonable to assume that Ellison is interested in the exact same kind of power, but over the broader culture.

by JeremyNT

3/7/2026 at 12:38:58 AM

Can’t you replace a lot of Hollywood with AI now? What am I missing?

by rayiner

3/7/2026 at 12:44:15 PM

Not "a lot" of Hollywood, not yet.

Short clips are doable, but the coherency duration before it goes weird just isn't there yet, unless you're OK with very short segments (like, single-digit seconds) between each AI-equivalent of a cut. That will probably improve, but the tech isn't there yet for "a lot", it's like CGI in the 90s rather than CGI as it is today.

That's aside from how AI output isn't copyrightable, which may or may not matter depending on if your goal is money or propaganda.

by ben_w

3/8/2026 at 4:15:06 AM

You haven't been seeing what's been coming out of models from China. Hollywood is the Wiley coyote that hasn't looked down yet. They're turbo fucked.

by fragmede

3/8/2026 at 4:02:27 PM

I keep up to date via Two Minute Papers, but I also take note of teams like Corridor Crew: Hollywood are not yet turbo-anything.

They may become so, I don't know how resolution and temporal coherency scale, but right now Hollywood's biggest problem from China is that China's got 1.5 billion people who are just as capable of learning SFX as anyone in the US.

by ben_w

3/8/2026 at 7:21:50 AM

> You haven't been seeing what's been coming out of models from China.

Citations?

I haven't, and would be genuinely curious if it is better than the AI short clip slop that appears on YouTube and really just needs to be taken out back and shot.

I have no doubt that its coming, I just haven't seen it yet.

by happymellon

3/8/2026 at 3:56:46 PM

I think there's two things contributing to YouTube slop, the earlier generations of free model being one, the other is more fundamental: most people using these tools for slop only care about advertising money, they neither know nor care about how much of a difference artistic taste makes (hence also why there's so many YouTube shorts which are just a clip from a random TV show with inappropriate music added, sometimes as a mic-drop, sometimes just obscuring the dialogue, but how even are YT shorts monetised?)

FWIW, there are models which are better than the majority of the YouTube slop I've seen*; but even then, when I show short clips from e.g. Google's "Flow" generator to others, those others find the results unimpressive. Also, the voice range is weird, my experience playing with them it had a much harder time of creating a decent working-class British accent than Dick Van Dyke.

However, amongst the various issues Flow has, the most obvious is length, because even though Flow lets me "extend" a clip, it's not got enough coherency between each (8 second?) segment when I do.

The second biggest issue is that, as with Stable Diffusion before it, it quite often produces stuff you just don't want. Junk dealers don't care about that and use the first result, an artist can afford to do 10 attempts and pick the right one, and will care to, too. That's something I can at least expect will be solved, or has been on non-free tools (control nets etc.) even though I don't expect slop dealers to ever bother with them.

If each 8 seconds of video was actually Hollywood quality (they're not, in any sense including resolution) and they were coherent when extended (likewise, they're not), as there's 750 times 8 seconds in a 100 minute film, it would still be an existential threat to Hollywood if those segments cost $1333, because that's a million dollars and in the cost range of "micro-budget indie", rather than the tens of millions that even normal-indie films cost (before marketing etc.) or hundreds of millions that blockbusters cost.

I have no idea how video generators scale up in cost with time or resolution, let alone quality, so I don't want to make guesses on how much extra compute (or indeed training data) would be needed for a coherent 2 minute cut-equivalent at 4k. As I don't like the epistemic collapse we're already witnessing with clips from video games being passed off as coverage of warfare, I very much hope this is one of those things which fails to scale up.

* although even with early models, if you wield them as an artist rather than as a slop merchant you get interesting output; you may remember the Harry Potter Balenciaga videos from a few years back, same channel and you can see how things have changed: https://www.youtube.com/@demonflyingfox/videos

by ben_w

3/9/2026 at 11:24:10 AM

https://www.reddit.com/r/aivideo/comments/1pu8smq/lord_of_th... is the tip of the iceberg.

by fragmede

3/9/2026 at 12:16:19 PM

Cuts/scene transitions: 5s, 7s, 8s, 11s, 13s, 14s, 17s, 20s, 25s, 27s, 29s, (and then several continuously overlapping transitions), 36s, 38s, 39s, 40s, 42s, 43s, 47s, 49s, 50s, 52s, another at 52s, 54s, two more at 55s, two at 57s, 1:00, …

This is demonstrating the specific limitation I was talking about. And also, some of those scenes, if you pause on them, they've got the slightly-off vibes of GenAI content, a casual viewer is only missing that because the scenes change so quickly. Something something moonwalking gorilla.

An artist can make a work of art despite the limitations of whatever tool they use (and indeed may get a kick out of doing just that), that doesn't mean the tool can do everything.

I myself am working on a GenAI musical comedy sketch video, but it is only possible with current tech because there's a good opportunity to make cuts every few seconds.

by ben_w

3/7/2026 at 3:30:39 AM

Not if you want to copyright the output

by bandrami

3/7/2026 at 9:06:55 PM

> Not if you want to copyright the output

That gets tricky: To the extent that an AI is just a tool — along the lines of a trained pair of hands executing a human prompter's specific, detailed instructions — the human prompter might qualify as an "author."

From the U.S. Copyright Office in January 2025:

"The Office affirms that existing principles of copyright law are flexible enough to apply to this new technology, as they have applied to technological innovations in the past. It concludes that the outputs of generative AI can be protected by copyright only where a human author has determined sufficient expressive elements.

"This can include situations where a human-authored work is perceptible in an AI output, or a human makes creative arrangements or modifications of the output, but not the mere provision of prompts.

"The Office confirms that the use of AI to assist in the process of creation or the inclusion of AI-generated material in a larger human-generated work does not bar copyrightability.

"It also finds that the case has not been made for changes to existing law to provide additional protection for AI-generated outputs."

https://www.copyright.gov/newsnet/2025/1060.html (emphasis and extra paragraphing added).

by dctoedt

3/8/2026 at 12:59:01 AM

The closest analogy is to a music producer sampling public domain audio. The composition will be protected by copyright but each individual sample will not.

Every single CGI rendered frame of Shrek is protected by copyright because it was human authored. It they used a diffuser to make Shrek 7, the individual frames would not be protected by copyright but their arrangement into a movie could be. That's a hugely different legal situation (for instance, if I chopped it up and made my own remix of it that would be protected).

by bandrami

3/8/2026 at 1:46:17 AM

Though this is complicated by the fact that the LLM initial training may have been massively illegal (or at least massively tortious). There's still a bunch of legal shoes to drop, one way or the other

by bandrami

3/7/2026 at 11:58:05 PM

Interesting, thank you for sharing. That’s surprising to me though when you see the reasoning it makes sense.

by rayiner

3/7/2026 at 2:12:32 AM

Prove it

by CyberDildonics

3/7/2026 at 1:21:48 AM

[dead]

by onetokeoverthe

3/6/2026 at 10:14:29 PM

There is a large history of companies with too much money (or access to borrowing) using it to buy up shiny objects. Whether it is CEO pride, greed, anger, or envy, it does not seem to matter.

by readthenotes1

3/6/2026 at 10:15:03 PM

See sports teams.

by raw_anon_1111

3/6/2026 at 10:30:06 PM

This is the same as acquiring the Washington Post or Twitter, right? It's more about media control than any classic business case.

Once you start meddling with the money machine it's not just Net Profit = Revenue – All Expenses (COGS + Operating Expenses + Interest + Taxes)

by MengerSponge

3/7/2026 at 12:28:01 AM

Netflix's deal included spinning off the news networks. If the Ellisons just wanted that, they could have had that for a considerably more digestible price point. They genuinely want Harry Potter and the Sopranos, too.

by ribosometronome

3/7/2026 at 3:15:00 AM

Hollywood is more glamorous which is fun, but the real value is how shifting which films and shows get made will also shift the national narrative.

Riefenstahl wasn't a journalist.

by MengerSponge

3/6/2026 at 10:14:24 PM

On top of this Ellison is likely to have to sell off the dried husk of Cerner in order to fuel his circular AI transactions with NVidia.

by monkeydreams

3/6/2026 at 10:57:00 PM

Remember, the Cerner acquisition enabled an essentially permanent beachhead for Oracle in the VA. It will pay off over time in 'we already run Oracle' across many dimensions of government.

See the career of Seema Verma from last DT admin.

by levinb

3/8/2026 at 5:30:55 AM

I thought the VA had come up with their own version of an EMR?

by JBlue42

3/6/2026 at 9:45:40 PM

They could be right, but I still have to go with Compaq buying Digital. Just about everyone working in IT in my area thought that was a crazy move by Compaq.

by jmclnx

3/6/2026 at 9:50:46 PM

I dunno, look at the numbers in TFA. TFA is a bit lengthy, but worth the read. I think Compaq bought Digital in good faith, even if it went poorly. Whereas even an idiot like me can look at those numbers (in summary, you could buy Disney for the same money) and see Ellison buying a new toy for Junior to play with, rather than a well-thought business deal.

by mikestew

3/6/2026 at 10:08:39 PM

The Compaq acquisition made sense - it gave an upstart in Houston the distribution it needed to expand into enterprise and survive in an increasingly commodified PC and Server market.

by alephnerd

3/7/2026 at 10:28:12 AM

[dead]

by CloakHQ

3/6/2026 at 10:41:30 PM

Netflix use BSD heavily. Oracle is Solaris. It was just BSD vs SysV all over again.

by ggm

3/6/2026 at 11:44:16 PM

Legitimate question (I'm not trying to be mean, I'm just ignorant): why?

Linux is just as free (or free-er), and it's a ton better supported: why would these major companies not use it?

by hungryhobbit

3/7/2026 at 1:13:00 AM

FreeBSD's kernel is smaller and more cohesive than Linux's. The whole OS (kernel and userland) is developed as a single project, whereas Linux is just a kernel with a massive and fragmented contributor base. When you need to make deep cross-cutting changes, like modifying how sendfile interacts with TLS interacts with the TCP stack interacts with the NIC driver, that's way easier in a smaller, coherent codebase.

Netflix's CDN nodes are basically single-purpose appliances that do one thing: push video bytes to your screen as fast as possible. For that kind of workload FreeBSD's network stack was historically stronger, and the codebase was easier for a small team to reach into and tune aggressively. They've gotten individual servers past 100 Gbps of TLS-encrypted traffic. A lot of the optimizations they needed (kernel TLS offload, sendfile improvements, custom TCP tuning) they built themselves and contributed back to FreeBSD, and the kernel's size and structure made that practical in a way that would've been harder in Linux.

The other piece is licensing. BSD license is permissive, GPL isn't. Netflix wanted the option to make deep kernel modifications without being required to open source everything. They ended up open sourcing a lot of it anyway, but having the choice mattered.

Worth noting they only use FreeBSD for the CDN. All their backend services, recommendations, control plane, that's all Linux on AWS. So it's not that they rejected Linux, they just picked FreeBSD for the one job where it had a real edge.

by perfmode

3/7/2026 at 3:01:26 AM

> Netflix wanted the option to make deep kernel modifications without being required to open source everything.

GPL2 would've let them do that just fine as long as they didn't distribute the Linux kernel to someone else.

AGPL was invented to close that "gap".

by antod

3/6/2026 at 11:37:15 PM

Does Oracle still significantly use Solaris? I was under the impression they barely keep it on enough life support to satisfy leftover contracts from Sun.

by gh02t

3/6/2026 at 11:43:55 PM

Nope. It's almost all Oracle Linux.

by btian

3/6/2026 at 9:55:18 PM

Why is Netflix in the "Big Tech" categorization in the "value in market cap" graphic?

I do not see how Netflix's primary business is any different than the businesses in the "Hollywood" categorization that also pay to make media and then sell it.

Apple and Amazon can be in a different category because making and selling media is an ancillary part of their business. Alphabet does not make or curate any media, it just distributes it.

by lotsofpulp

3/6/2026 at 10:11:35 PM

Netflix pays like a Big Tech company, is valued like a Big Tech company and was part of FAANG. 10 years ago the streaming tech they had was fairly high tech, even if it's now pretty standard. So they're considered Big Tech for historical reason

by arthurjj

3/7/2026 at 12:55:55 AM

"Netflix pays like a Big Tech company, is valued like a Big Tech company and was part of FAANG."

That would be circular. The author was trying to show how much smaller hollywood media companies are than big tech.

by jasonfarnon

3/6/2026 at 10:17:01 PM

There was no world that Netflix should have been part of FANG (notice the missing A as original conceived by Cramer). At the time it was coined, Apple was already the most valuable company. But was left out as was Microsoft

by raw_anon_1111

3/6/2026 at 10:26:38 PM

It was the companies that were performing well in the stock market. Microsoft and Apple are much older and didn’t have the growth those did.

by travisjungroth

3/6/2026 at 10:50:41 PM

They also have their own global CDN, while Disney/HBO et al use various third party CDNs.

by est31

3/6/2026 at 10:12:03 PM

> I do not see how Netflix's primary business is any different than the businesses in the "Hollywood" categorization that also pay to make media and then sell it

Netflix owns distribution and owns+sells VFX and animation services via Eyeline. Most "Netflix orignals" aren't actually produced by Netflix - Netflix just takes a capital stake in a production that was already in the works by an existing production company.

This made Netflix closer to Valve, and allows their IR team to make a valid case that they should be compared against (and thus deserve a valuation) comparable to other tech companies.

by alephnerd

3/6/2026 at 10:04:01 PM

My guess is because Netflix gets money from subscriptions, which is a very different revenue model from traditional Hollywood. But again, completely a guess

by Forgeties79

3/6/2026 at 10:18:01 PM

I am under the impression traditional Hollywood also got much of its money from subscriptions, it just happened to pass through a middleman known as the cable or satellite TV company. Hence the constant threats of not being able to watch so and so channel due to contract dispute of "carriage fees" or whatever they called the amount per subscriber that a cable/satellite TV company paid Warner Bros/Disney/etc.

by lotsofpulp

3/7/2026 at 2:52:38 AM

Movie studios want billion-dollar box office franchises. Netflix wants to make a show with 7 seasons they can slowly trickle out to keep you paying 20 dollars a month. Netflix prestige acquisitions are a mix of "building the catalog" and ego.

by jrjeksjd8d

3/6/2026 at 10:05:12 PM

Netflix is a streaming platform first and an entertainment studio second.

Its like youtube if youtube red didnt fail

by samrus

3/6/2026 at 10:11:11 PM

The streaming platform and entertainment studio cannot be considered 1st and 2nd things in 2026. The streaming platform is the delivery mechanism of the product made by the entertainment studio, no different than what Disney/Comcast/Paramount/WarnerBros Discovery does.

Youtube Red just got rebranded as Youtube Premium, and does not seem comparable because Youtube does not curate, it just sells advertising spots, and subscriptions to be able to skip ad breaks. You can watch any random person's content on Youtube or Youtube Premium, but you cannot on Netflix/Disney/etc.

by lotsofpulp

3/6/2026 at 10:11:02 PM

Netflix may be a streaming platform but it’s streaming mostly Netflix’s content.

by kgwgk

3/6/2026 at 10:01:28 PM

Something I've mulled about this acquisition is that it appears to be a form of succession planning by Larry Ellison for his kids David (Skydance) and Megan (Annapurna).

Oracle was always an Ellison driven enterprise, but neither David nor Megan had much aptitude or interest in enterprise SaaS, and a newer generation of operators took the reigns at Oracle in the 2010s like Catz, Hurd, Scilia, Magouyrk, and even Kurian before he left for GCP.

Given the ferocity with which this acquisition was fought (much more ferocious that similarly political fraught M&As like Sinclair) and the relatively weak fundamentals, there clearly is an emotional and family succession planning aspect to it.

Ellison has taken similar decisions with an emotional lens previously, such as his support for Steve Jobs retaking control of Apple.

by alephnerd

3/7/2026 at 6:51:01 AM

I don't quite follow, how does this acquisition fits in with the family succession planning? It seems the son and daughter each has their own going enterprise and they're not interested in their daddy's business, but now daddy is fighting to acquire WBD for his son's enterprise? How does this affect the daughter? The dynamics are not quite clear to me, could you explain?

by keeda

3/6/2026 at 10:11:48 PM

Seems more cynical far right media control. You can call that succession planning i suppose.

by cyanydeez

3/6/2026 at 10:12:39 PM

There are easier and less fraught methods to build a politically controlled media empire, such as Sinclar's methodological and quiet approach, or quietly creating a family office that purchases commanding voting stakes in media enterprises like Laurene Powell Jobs' Emerson Collective.

The Skydance-WBD acquisition was extremely messy because emotion was clearly involved.

by alephnerd

3/6/2026 at 10:28:02 PM

David is fairly good at Hollywood production. He's got a surprising number of blockbusters under his belt.

It remains to be seen whether his rightward turn is just pandering to Trump to get stuff done or if he's gone of the rails. If its the latter, the Paramount acquisition will likely be regarded as one of the biggest failures of all time.

by gamblor956

3/7/2026 at 10:56:43 AM

Worst acquisition? Bayer buying Monsanto and getting all of the Glyphosat problems?

by holgerschurig

3/6/2026 at 10:34:51 PM

Control of the media has become more important than the direct financial results of that acquisition. We are at a precarious point in history and it's becoming increasingly necessary to manufacture consent to maintain the American imperial project.

Don't think of this in terms on a financial return on investment. A half dozen people control almost all American media because the fear is that without the manufactured consent, the entire system is going to collapse. Historically, that's tended to result in heads on spikes or being hunt from the city walls.

Perhaps it's nihilistic of me but I thought that after the 2024 election, we're now beyond the point where any of this is going to get better through electoral politics. Any democracy now is performative. Both sides are bought and paid for. There is no significant, organized resistance to any of this. Material conditions will continue to get worse.

Think about it: it doesn't matter if you, as Larry Ellison or Jeff Bezos or Elon Musk, have $200 billion or $300 billion or $400 billion. Like that has no impact on your life. There is nothing you can possibly buy that requires more wealth. The goal now is to preserve the system at any cost.

by jmyeet

3/6/2026 at 10:45:34 PM

There is a kind of business people who do most of their money engineering failed business takeovers and mergers. A good example is John C. Malone. This guys is always involved in some takeover or merger of companies, most of the time leading to no gain for investors, but he himself became billionaire with this strategy. Media companies are some of the best ways to engineer these business "opportunities".

by coliveira

3/8/2026 at 5:32:04 AM

John Malone is on the board at Warner. Yes, he's profiting again from these shenanigans.

by JBlue42

3/6/2026 at 10:36:48 PM

>Another culture clash, this time between Discovery’s unscripted empire and Warner’s premium sensibilities, a wannabe mogul overpaying so he could cosplay as Robert Evans (ask Claude), and a 5x debt-to-EBITDA ratio. The good news? The sequel had a short runtime. CEO David Zaslav slashed costs, engineered a good bank / bad bank structure to spin WBD’s declining linear assets, and ultimately orchestrated a bidding war that restored shareholder value. As an operator, Zaz is Ed Wood (see: the worst branding decision in history, deprecating HBO), but as an investment banker, he’s Steven Spielberg.

WTF is this slop? I've never seen a an article so riddled with analogies and pop culture references that actively degrade the ability to understand whatever argument might be lurking behind the obscurantism.

What body of work has Scott Galloway produced that should cause me or any other reader to suffer this kind of self-indulgence normally found in a 8th grade creative writing class, in the hopes of learning something meaningful about these topics?

Gurus are going to guru I guess.

by helaoban

3/6/2026 at 11:05:13 PM

It depends on whether or not you like that style of writing. It has always been consistent with Galloway; I like it, but I prefer listening to it over reading it.

Whereas I definitely prefer reading PG’s writing over listening to it, interestingly enough.

Just personal preference. Scott’s a good storyteller; if you let him finish the story. :)

by borski

3/6/2026 at 10:47:59 PM

I also find Scott to be an unsufferable writer. It all feels so forced

by HDThoreaun

3/6/2026 at 11:17:26 PM

To me it feels like you're reading his insecurity. He can't be direct. He needs to fluff it up so you know how smart he is. I'm guilty of the same bullshit.

by steve_adams_86

3/6/2026 at 10:03:20 PM

[dead]

by Helloworldboy

3/6/2026 at 9:47:24 PM

[flagged]

by sizhxjs

3/6/2026 at 10:22:19 PM

This article sure uses a lot of em dashes. I see 9 in the article body.

by james2doyle

3/6/2026 at 9:51:15 PM

amazing that people still write articles like this and get away with it… everyone knows why this purchase was made and this mate is discussing things even my 12-year old would not bring up. X purchase maybe was understandable discussion but in 2026 writing article like this is borderline “criminal”

by bdangubic

3/6/2026 at 9:59:02 PM

> everyone knows why this purchase was made

you should say what you're talking about because I for one have no idea.

by rgbrgb

3/6/2026 at 10:25:13 PM

The idea is that this is a political deal, not a business deal - by buying WBD, the Ellisons add CNN to a portfolio that already includes CBS and TikTok, and shaping coverage matters more to them than the stock price.

by DaveFr

3/6/2026 at 10:36:40 PM

If that's the case, shouldn't they have been able to work out a much cheaper deal with Netflix where they get CNN and Netflix everything else?

by CodesInChaos

3/7/2026 at 12:47:03 AM

Probably hard to cut a deal like this with someone you are actively engaged in a hostile bidding war with.

by jandrese

3/7/2026 at 12:59:29 AM

I think this was actually on the table and rejected. Which is why the "control the narrative" argument is fishy, or at least missing something. And now having just defended Oracle I have to go take a shower.

by jasonfarnon

3/6/2026 at 10:21:37 PM

I assume OP is talking about an ideological motive to take over the media industry and pivot it in a rightward direction. That’s certainly what happened with CBS News, I think it’s fair to speculate about CNN too.

No idea why OP alluded to it rather than just said it though.

by afavour

3/6/2026 at 10:26:24 PM

Even if that is indeed the motive, the article is useful in showing how from a financial perspective this is bad deal for Paramount.

by warkdarrior

3/6/2026 at 10:51:48 PM

Absolutely. But it’s still relevant because depending on your goal (and your resources) a bad deal that burns cash might still be a positive outcome.

Not dissimilar from Musk buying Twitter, objectively he overpaid by a ton for a business that wasn’t thriving. But I think time has shown that his purchase has paid political and ideological dividends. Which might be worth the money to him.

by afavour

3/6/2026 at 10:27:10 PM

didn’t think I had to actually explain it :)

by bdangubic

3/6/2026 at 10:15:06 PM

Its a cynical media control strategy to prevent taxes on the rich.

by cyanydeez

3/6/2026 at 10:19:57 PM

This doesn’t make sense. Surely paying taxes would be cheaper than buying Warner Bros?

by ViktorRay

3/6/2026 at 10:48:26 PM

That's what a poor person would say. Fox news managed to get Donald Trump elected, whose net worth has gone up by billions.

Also, it's not real money, it's debt equity. Equity transfers are just rich people toys. They move the actual cost into the entity they purchase, and if it fails, whatever, it didn't cost them anything.

by cyanydeez

3/7/2026 at 12:32:17 PM

And all the other investors in the market just ignore this debt when deciding the price they are willing to pay for a share?

Shares of businesses with excessive debt relative to income do not do well for their shareholders.

by lotsofpulp

3/7/2026 at 4:21:21 PM

Ruining society is a long term objective. Normal 6month profteers need not apply.

by cyanydeez

3/7/2026 at 4:37:35 PM

I don’t know what that means. You wrote something about debt equity not costing shareholders anything, but it’s trivial to see that all else being equal, a business with more debt will have a smaller market capitalization than a business with less debt.

The debt from the Time Warner and other purchases dragged ATT down from the top spot to 3rd, and boosted Tmobile to the top. The shareholders of ATT lost and the shareholders of Tmobile gained.

by lotsofpulp

3/6/2026 at 10:30:01 PM

He's probably talking about this: https://www.972mag.com/ellisons-paramount-tiktok-israel-medi...

by ajb

3/7/2026 at 3:11:16 AM

Indeed. I have tried to say it more bluntly, Galloway is pro-Israel and vehemently so.

by fud101

3/7/2026 at 2:28:30 PM

Did you mean to write Ellison, rather than Galloway?

by ajb

3/6/2026 at 10:06:18 PM

Elaborate please. This is the place for insiders to inform others

by samrus

3/6/2026 at 10:26:42 PM

After this merger, how many MSM outlets (including social media too) will not be in control by right wing billionaire nutcases? It is like when people for months discussed how much value X lost after Musk bought it (it was the greatest single investment made by any human ever)

by bdangubic

3/6/2026 at 10:27:05 PM

It was an elaborate scam between Trump and his billionaire buddy (and contributor) Ellison to make money in various ways (both the acquisition as well as driving down shares in Netflix so Trump could buy the dip - as was reported earlier in the week) as well as to MAGA-ify the entertainment industry further.

It's all a grift.

by popalchemist