The Brief – Thursday 18 December – WBD rebuffs Paramount’s hostile bid, Instagram launches TV app, iHeartMedia and Netflix strike a deal
Welcome to the Brief, The Media Leader’s round-up of media news.
❗Warner Bros Discovery is poised to rebuff a hostile $108bn bid from rival Paramount after reportedly questioning its ability to finance the deal. A key financial backer of the deal, investment firm Affinity, owned by Donald Trump’s son-in-law Jared Kushner has pulled out. WBD went on the attack against Larry and David Ellison on Wednesday, urging shareholders to reject their hostile takeover offer and saying the Ellisons have “consistently misled” them. (Financial Times)
🔎 Following US and EU antitrust rulings, Google has reintroduced the ability for publishers to set different ad pricing on its products for the first time since 2019, when the search giant introduced unified pricing. (Press Gazette)
📺 Meta’s Instagram has unveiled its first dedicated TV app which allows users to watch the short-form video feature, Reels, on a larger screen. The app will initially launch on Amazon’s Fire TV platform as a test, but will eventually expand to other TV platforms. (Bloomberg)
🎧 iHeartMedia, the no.1 audio company in America, has announced an exclusive video podcasting partnership with Netflix. The deal will see 15 of iHeartMedia’s podcast shows launch on Netflix in early 2026 in the US, with more markets to follow. (Podnews)
Amazon is in early discussions to invest up to $10bn in OpenAI in a deal which would see the AI company using Amazon’s AI chips. If this materialises, the deal would value OpenAI at more than $500bn. (Bloomberg)
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