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9:30 PM ET, January 20, 2026

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Lucas Shaw / Bloomberg:
Netflix reports Q4 revenue up 18% YoY to $12B vs. $11.97B est., 325M paid subs, 2025 revenue up 16% to $45.2B, plans to increase content spend by 10% in 2026  —  Netflix Inc. delivered fourth-quarter results that largely beat Wall Street estimates but issued a cautious forecast for the months ahead …
Dade Hayes / Deadline:
Netflix's ad revenue hit $1.5B in 2025, up by more than 2.5x vs. 2024, and viewing hours grew 2% YoY in H2, driven by a 9% rise in viewing of branded originals  —  Earnings per share came in a penny ahead of expectations at 56 cents, while revenue of $12.051 billion exceeded the target of around $12 billion.
Todd Spangler / Variety:
Netflix and WBD say Netflix revised its WBD offer to an all-cash deal for $27.75/share, with the same $82.7B value; its original bid had $59B in debt financing  —  Netflix and WBD announced Tuesday that they amended their definitive agreement for Netflix's proposed acquisition of Warner Bros. assets …
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Bloomberg:
Sources: banks including Wells Fargo, BNP Paribas, and HSBC began selling an extra $8.2B of short-term loans to help Netflix fund its WBD purchase  —  Banks including Wells Fargo & Co. on Tuesday started selling, or syndicating, an extra $8.2 billion of short-term loans to help Netflix Inc. fund …
Discussion: New York Post
Alex Weprin / The Hollywood Reporter:
Filings: WBD projects CNN will generate $1.8B in revenue and $600M in adjusted EBITDA for FY 2026; docs show CNN had revenue of $2.2B in 2021 and $1.8B in 2023  —  Warner Bros. Discovery is revealing financial details in connection with its planned spinout of Discovery Global.
Ted Johnson / Deadline:
MS NOW hires Mike Nizza as VP of digital to focus on building out the network's subscription-based content  —  MS NOW has hired Mike Nizza as vice president of digital, with a focus on building out the network's subscription-based content.  —  Nizza will report to Madeleine Haeringer …
Rick Porter / The Hollywood Reporter:
Nielsen: Christmas Day 2025 set a record for US streaming usage with 55.1B minutes, or 54% of all TV viewing for the day, beating Christmas 2024 by 3.9B minutes  —  The month of December also marked another all-time high for streaming usage.  —  With three streaming-exclusive NFL games …
 
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Ivan Mehta / TechCrunch:
Netflix adds a real-time voting feature for its Star Search reboot, available on mobile, smart TVs, and streaming devices, but not on a browser
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Jess Weatherbed / The Verge:
Sony and TCL sign a non-binding agreement to spin off Sony's TV and home audio hardware business into a new joint venture, aiming to finalize the deal by March