Warner Bros rejects takeover offer from Paramount, tells shareholders to stick with Netflix bid

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By WYATTE GRANTHAM-PHILIPS and MICHELLE CHAPMAN, Associated Press

NEW YORK (AP) — Warner Bros. again rejected a takeover bid from Paramount and told shareholders Wednesday to stick with a rival offer from Netflix.

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Warner’s leadership has repeatedly rebuffed Skydance-owned Paramount’s overtures — and urged shareholders just weeks ago to back its the sale of its streaming and studio business to Netflix for $72 billion. Paramount, meanwhile, has sweetened its $77.9 billion offer for the entire company and gone straight to shareholders with a hostile bid.

Warner Bros. Discovery said Wednesday that its board determined Paramount’s offer is not in the best interests of the company or its shareholders. It again recommended shareholders support the Netflix deal.

“Paramount’s offer continues to provide insufficient value, including terms such as an extraordinary amount of debt financing that create risks to close and lack of protections for our shareholders if a transaction is not completed,” Warner Bros. Discovery Chair Samuel Di Piazza Jr. said in a statement. “Our binding agreement with Netflix will offer superior value at greater levels of certainty, without the significant risks and costs Paramount’s offer would impose on our shareholders.”

Paramount did not immediately respond to a request for comment.

Late last month Paramount announced an “irrevocable personal guarantee” from Oracle founder Larry Ellison — who is the father of Paramount CEO David Ellison — to back $40.4 billion in equity financing for the company’s offer. Paramount also increased its promised payout to shareholders to $5.8 billion if the deal is blocked by regulators, matching what Netflix already put on the table.

In a letter to shareholders, Warner expressed concerns about a potential deal with Paramount. It said it essentially considers the offer a leveraged buyout, which includes a lot of debt, and that it could take 12 to 18 months to close a deal.

The battle for Warner and the value of each offer grows complicated because Netflix and Paramount want different things. Netflix’s proposed acquisition includes only Warner’s studio and streaming business, including its legacy TV and movie production arms and platforms like HBO Max. But Paramount wants the entire company — which, beyond studio and streaming, includes networks like CNN and Discovery.

If Netflix is successful, Warner’s news and cable operations would be spun off into their own company, under a previously-announced separation.

A merger with either company will attract tremendous antitrust scrutiny. Due to its size and potential impact, it will almost certainly trigger a review by the U.S. Justice Department, which could sue to block the transaction or request changes. Other countries and regulators overseas may also challenge the merger.

Matt K. Lewis: Democrats could avoid a lot of trouble with a little ego management

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As we head into 2026 and Democrats try to figure out how to regain power, their New Year’s resolution should be simple: Manage egos better.

In recent years, they seem to have forgotten the time-tested necessity of placating people. In other words, doing the same basic drudgery the rest of us rely on to get through this chaotic world.

This effort cannot merely be directed toward voters, as important as they are. It must also include elite stakeholders, some of whom might (rightly) be considered kooks, weirdos and otherwise high-maintenance eccentrics.

Lest you think Dems should simply shrug off these folks and say “good riddance,” consider this: Both Trump terms might have been avoided if Democrats had been more willing to nurture the nuts in years gone by.

Let’s start with their treatment of America’s top crank: Robert F. Kennedy Jr.

As journalist Michael Scherer, who profiled RFK Jr. for The Atlantic, told Alex Wagner of “Pod Save America”: Once Kennedy’s own 2024 presidential campaign started to flounder, he and his campaign manager began “to make sort of outreach to Democrats … to see if they can open a conversation with Biden to sort of trade something.”

Unfortunately, “the Democratic response (was) silence.” They wouldn’t meet with him, they wouldn’t talk to him.

Later, as Scherer recounts: “A friend of (Kennedy’s) connects him with Tucker Carlson who connects him with Donald Trump. And that night, just hours later, they’re talking, and Trump at that point wants to make a deal.”

The rest is history.

Now, I know what you’re thinking. “But Kennedy is a nut! Why should Democrats have humored him?”

How about this: Because Trump narrowly won the presidency in 2024 by forming a disparate coalition held together by duct tape, resentment and (possibly) a cursed amulet.

This motley crew included more prominent Dems than just RFK Jr. Remember when Biden basically ghosted Elon Musk for that big 2021 White House electric vehicle summit? Even Kamala Harris — who happily agreed with Biden on just about everything except her own polling numbers — called that a huge mistake.

Then again, Harris committed her own costly slight when she decided against going on Joe Rogan’s podcast.

For an entire decade now, Democrats have consistently alienated allies — with devastating results. I’m talking about the snubs that might have prevented Trump’s first presidential run entirely.

Not just the famous humiliation of Trump at the 2011 White House Correspondents’ Dinner. Here’s the more tragic prequel: Former “Meet the Press” host Chuck Todd told the Bulwark’s Tim Miller that before Trump went full birther, he actually called the Obama White House offering “ideas on how to improve the state dinner.”

That’s right. Donald J. Trump — future leader of the free world — just wanted to talk about better parties. Shrimp trays. Tablecloths. Maybe a chocolate fountain.

Just as the world would have been better had the Washington Senators signed Fidel Castro to a huge baseball contract before he got too interested in politics, America might have been better if Obama had made Trump the White House state dinner czar.

But as Todd put it, “The last thing the Obama White House was going to do was placate a guy like Donald Trump.”

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Understandable — until you consider that the alternative to humoring him was, you know … President Trump. Twice.

Look, I totally understand why a U.S. president might think he or she shouldn’t have to stoop to kissing some crank’s ring or placating some gilded, phony billionaire. But let’s be honest: It’s part of the job.

Instead of performing this sort of ego cultivation, Democrats — whether because of snobbery, elite gatekeeping, geriatric aloofness or a disciplined disdain for “time burglars” — have repeatedly alienated potential allies (or at least neutral parties). Then they act shocked when these same people drift into the MAGA solar system like space debris.

If Trump is truly an existential threat — and Democrats say this approximately 87 times a week — then maybe, just maybe, they should Return. A. Phone. Call.

Otherwise, Donald Trump will. Probably at 3 a.m., while eating a Big Mac.

So grovel if you must. Fake interest. Smile like you’re not dying inside. Do the basic humiliations the rest of us perform daily to get hired, get promoted or get a date.

It’s the least you can do. So make it your New Year’s resolution and honor it.

But if you think you’re too good to perform the basic glad-handing and ego-stroking, even for the nuttiest eccentrics, bad things will happen.

Trust me — I’ve seen this movie. And we’re only a year into his second term.

Matt K. Lewis is the author of “Filthy Rich Politicians” and “Too Dumb to Fail.” He wrote this column for the Los Angeles Times.

Five weeknight dishes: Silky, salty and abundantly satisfying spaghetti carbonara

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Luxury and simplicity aren’t mutually exclusive. Take, for example, spaghetti carbonara, which requires no fancy ingredients but is salty, silky and abundantly satisfying. There’s an outrageousness to how delicious it is and a disheveled quality that only makes the dish taste better. It’s a meal to get excited about. (Picture yourself bellowing the word, Oprah-style: Carbonaraaa!) And it may be the ideal recipe for a New Year’s Eve dinner.

1. Spaghetti Carbonara

Spaghetti Carbonara. Luxury and simplicity aren’t mutually exclusive. Food Stylist: Sarah Jampel. (Linda Xiao/The New York Times)

This dish is a deli bacon-egg-and-cheese-on-a-roll that has been pasta-fied, fancified, fetishized and turned into an Italian tradition that, like many inviolate Italian traditions, is actually far less old than the Mayflower. Because America may have contributed to its creation, carbonara is Exhibit A in the back-and-forth between Italy and the United States when it comes to food. Remember: The main goal is creaminess.

By Ian Fisher

Yield: 4 servings

Total time: 30 minutes

INGREDIENTS

Salt
2 large eggs and 2 large yolks, room temperature
1 ounce (about 1/3 packed cup) grated pecorino Romano, plus additional for serving
1 ounce (about 1/3 packed cup) grated Parmesan
Coarsely ground black pepper
1 tablespoon olive oil
3 1/2 ounces of slab guanciale (see recipe), pancetta or bacon, sliced into pieces about 1/4 inch thick by 1/3 inch square
12 ounces spaghetti (about 3/4 box)

DIRECTIONS

1. Place a large pot of lightly salted water (no more than 1 tablespoon salt) over high heat, and bring to a boil. Fill a large bowl with hot water for serving, and set aside.

2. In a mixing bowl, whisk together the eggs, yolks and pecorino and Parmesan. Season with a pinch of salt and generous black pepper.

3. Set the water to boil. Meanwhile, heat oil in a large skillet over medium heat, add the pork, and sauté until the fat just renders, on the edge of crispness but not hard. Remove from heat and set aside.

4. Add pasta to the water and boil until a bit firmer than al dente. Just before pasta is ready, reheat guanciale in skillet, if needed. Reserve 1 cup of pasta water, then drain pasta and add to the skillet over low heat. Stir for a minute or so.

5. Empty serving bowl of hot water. Dry it and add hot pasta mixture. Stir in cheese mixture, adding some reserved pasta water if needed for creaminess. Serve immediately, dressing it with a bit of additional grated pecorino and pepper.

2. Skillet Chicken With Mushrooms and Caramelized Onions

This comforting one-pot dinner is reminiscent of a rich French onion soup, but made in less time and with lighter ingredients. Cooking the onions in a hot, dry pan forces them to release their moisture, so that they shrink and become silky and sweet in 30 minutes. Serve everything directly from the pan, with some crusty bread to soak up all the juices, or shred the chicken and pile it on top of buttered noodles. For something green, stir in some spinach to wilt at the end or serve alongside a simple green salad or roasted broccoli.

By Yasmin Fahr

Yield: 4 servings

Total time: 30 minutes

INGREDIENTS

5 tablespoons olive oil
2 tablespoons plus 2 teaspoons sherry vinegar
2 teaspoons honey
1 teaspoon Dijon mustard
1/4 teaspoon red pepper flakes
Kosher salt and black pepper
1 1/2 pounds boneless, skinless chicken thighs, cut into 3-inch pieces
2 medium yellow onions, thinly sliced (about 4 cups)
3/4 pound cremini mushrooms, stems removed and thinly sliced (about 4 cups)
1/2 cup fresh flat-leaf parsley or dill leaves and fine stems, roughly chopped
1/4 cup grated Parmesan or pecorino (optional)
Bread or cooked pasta, for serving

DIRECTIONS

1. In a large mixing bowl, combine 2 tablespoons oil, 2 tablespoons vinegar, the honey, mustard, red-pepper flakes and 1 teaspoon salt; whisk until smooth. Pat the chicken dry and season with salt and pepper, then add to the mixture, coating it well. Set aside at room temperature, stirring it once while you make the onions.

2. Heat a 12-inch cast-iron or heavy skillet over medium-high until very hot, 1 1/2 to 2 minutes, then add the onions in an even layer. Season with salt, then cook, mostly undisturbed, for 4 minutes more, stirring every minute or so. Add the mushrooms, season with salt, and stir to combine. (It will look crowded, and that’s OK.) Allow to cook mostly undisturbed until the mushrooms shrink and start to brown, about 4 minutes, stirring every minute or so.

3. Stir in the remaining 3 tablespoons olive oil and allow the onions to cook until they start to color, stirring and lowering the heat as necessary to avoid burning, about 2 minutes. Push the onions and mushrooms to the edges of the skillet, then add the chicken pieces to the center. Pour any remaining marinade (there will be very little) over the onions and mushrooms. Cook undisturbed for 4 to 5 minutes, then combine the chicken and vegetables and cook, stirring occasionally, until the chicken is cooked through, about 10 minutes more. (Reduce the heat to medium if the onions look like they are burning at any point.)

4. Add the remaining 2 teaspoons sherry vinegar, stirring and scraping up anything on the bottom of the skillet. Season to taste with salt.

5. Remove from the heat and top with the parsley and cheese, if using. Serve with bread or pasta.

3. Curry Shrimp and Sweet Potato

Curry Shrimp and Sweet Potato. Luxury and simplicity aren’t mutually exclusive. Food Stylist: Barrett Washburne. (Ryan Liebe/The New York Times)

Inspired by the charms of Caribbean curry shrimp, this recipe provides a quick and adaptable path to dinner. Once the base recipe has been memorized, any number of substitutions can be made for the shrimp and supporting vegetables. The formula is simple: While shrimp marinate in curry powder, a medley of onions, bell peppers, garlic and chiles sweat their way to succulence. Sliced onions are added in two steps — once at the beginning and again at the end, with the shrimp — to offer both a mellow sweetness and a more pungent bite. This curry can be served on its own, but prefers to be spooned over freshly steamed rice.

By Ashley Lonsdale

Yield: 4 servings

Total time: 40 minutes

INGREDIENTS

1 pound shrimp (ideally as large as you can find), peeled, deveined and tails removed
1 large yellow onion, sliced
Salt and freshly ground black pepper
2 tablespoons curry powder
1/4 cup ghee or extra-virgin olive oil
1 red bell pepper, sliced
2 garlic cloves, sliced
2 small bird’s-eye chiles, sliced
1 large unpeeled sweet potato (about 3/4 pound), sliced into 1/2-inch-thick half-moons
2 cups destemmed, chopped kale
1/4 cup chopped fresh cilantro
Cooked rice, for serving

DIRECTIONS

1. Add the shrimp and half the sliced onion to a medium bowl and season with salt, pepper and 1 tablespoon of the curry powder. Set aside to marinate.

2. Heat the ghee in a large skillet over medium-high. Add the remaining sliced onions, along with the bell pepper, garlic and chiles, and cook for 3 to 5 minutes, stirring occasionally, until the vegetables are just softened. Season with the remaining 1 tablespoon curry powder, plus salt and pepper, and cook for 1 to 2 minutes, until fragrant.

3. Add 1 1/2 cups of water and simmer for 2 to 3 minutes, until flavors meld. Taste and adjust seasoning if necessary.

4. Add the sweet potato and kale, cover and cook for 6 to 8 minutes, until just tender.

5. Mix in the marinated shrimp and onion mixture, cover and simmer for 5 to 6 minutes, until shrimp are opaque and cooked all the way through. Serve hot over rice, with a sprinkle of cilantro.

4. White Bean Shakshuka

White Bean Shakshuka. Luxury and simplicity aren’t mutually exclusive. Food Stylist: Barrett Washburne. (Rachel Vanni/The New York Times)

This white bean shakshuka is heartier than the traditional version and takes advantage of two readily available pantry foods: white beans and jarred marinara sauce. While the beans stretch this meal and give it more protein, the marinara makes it a saucy dish that begs for a thick slice of sourdough on the side. This dish is perfect for any meal and can be eaten at any time of day. If bread isn’t your thing, then feel free to pair it with white rice, which works equally well with the saucy beans and jammy eggs for a filling dinner. For a lighter option, you can enjoy the shakshuka on its own with a side salad.

By Ifrah F. Ahmed

Yield: 4 servings

Total time: 45 minutes

INGREDIENTS

2 tablespoons olive oil
1 large white onion, diced
Fine sea salt
6 garlic cloves, minced
2 medium tomatoes, chopped
1 medium jalapeño, cut in half lengthwise
1 (15-ounce) can cannellini beans or other white beans, rinsed
1/2 cup store-bought or homemade marinara sauce
1 handful cilantro leaves, finely chopped, plus more for serving
2 teaspoons ground cumin
1/2 teaspoon dried oregano
1/4 teaspoon paprika
1/8 teaspoon ground pepper
4 large eggs
Toasted bread or cooked white rice (both optional), for serving

DIRECTIONS

1. In a large cast-iron skillet, heat 1 tablespoon of oil over medium heat until shimmering, about 1 minute. Stir in the onion, season with salt, cover and cook, stirring occasionally, until the onions have softened a little, about 4 minutes.

2. Stir in the garlic and cook until the garlic is starting to lightly brown, about 2 minutes. Next, add the remaining 1 tablespoon of oil, the tomatoes and the jalapeño halves, cut sides down. Cook, covered, until the tomatoes begin to lose some body and break down, about 6 minutes.

3. Stir in the beans, marinara sauce, cilantro, cumin, oregano, paprika, pepper, 1 teaspoon salt and 1/2 cup water. Cook, covered, for 8 minutes, stirring occasionally.

4. Uncover and make 4 small divots in the sauce and crack the eggs into each of the little spaces. Top each egg off with a pinch of salt and cover the pan. Cook the eggs for 7 to 9 minutes, until the whites are cooked and yolks reach your desired level of doneness.

5. Take the skillet off the stove, sprinkle with additional cilantro and serve the eggs immediately, with the side of your choice.

5. Pan-Seared Steak With Red Wine Sauce

Pan-Seared Steak With Red Wine Sauce. Luxury and simplicity aren’t mutually exclusive. (Francesco Tonelli/The New York Times)

You can use any cut of steak, either bone-in or boneless, to make this classic French bistro dish. Steaks cut from the tenderloin, such as filet mignon, are the most tender pieces of beef, though they lack the assertively beefy chew of sirloins and rib steaks. Adding brandy to the pan sauce not only contributes flavor; its high alcohol content and acidity help extract flavor from the pan drippings. However, if setting it on fire makes you nervous, skip that step and let the brandy simmer down for an extra few minutes to cook off most of the alcohol. Make sure to open a good bottle of red wine to use in the sauce here, preferably one that you’re happy to finish off with dinner. This recipe is part of The New Essentials of French Cooking, a guide to definitive dishes every modern cook should master.

By Melissa Clark

Yield: 4 servings

Total time: 35 minutes

INGREDIENTS

Kosher salt, as needed
Freshly ground black pepper, as needed
1 1/2 pounds boneless steak, or 1 3/4 pounds bone-in steak (1 1/2 inches thick)
2 shallots
2 1/2 tablespoons unsalted butter
1/2 teaspoon neutral oil, such as grapeseed
2 tablespoons good brandy, preferably Cognac
1/3 cup dry red wine
1/3 cup beef or chicken stock, preferably homemade
1 tablespoon chopped chives
Watercress, for serving

DIRECTIONS

1. Generously sprinkle salt and pepper all over steaks, then let steaks rest uncovered for 15 minutes at room temperature. Meanwhile, mince the shallots.

2. Melt 1/2 tablespoon butter and the oil in a large skillet over medium-high heat until almost smoking. Add steaks and cook until done to taste, about 3 to 4 minutes per side for rare and a little longer for medium-rare or medium. (Bone-in steaks take a few minutes longer to cook through than boneless.) If the pan begins to smoke or burn, lower the heat. Transfer steaks to a plate to rest while you prepare the sauce.

3. Add shallots to the skillet and cook over medium heat until lightly browned, about 1 minute. Add brandy to the skillet and use a long-handled match or igniter to set the brandy on fire. (Stand back when you do this.) Let flames die out, then add red wine and cook until reduced and syrupy, 2 to 4 minutes. Add stock and boil until reduced and thickened, 3 to 4 minutes longer.

4. Remove pan from heat and whisk in remaining 2 tablespoons butter and the chives. Serve steaks and sauce immediately with watercress.

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Today in History: January 7, first African American sings with the Metropolitan Opera

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Today is Wednesday, Jan. 7, the seventh day of 2026. There are 358 days left in the year.

Today in history:

On Jan. 7,1955, Marian Anderson became the first African American to sing with the Metropolitan Opera in New York, in Verdi’s “Un Ballo in Maschera.”

Also on this date:

In 1610, astronomer Galileo Galilei observed three of Jupiter’s moons for the first time and a fourth days later.

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In 1979, Vietnamese forces captured the Cambodian capital of Phnom Penh, overthrowing the communist Khmer Rouge government whose brutal policies are blamed for the deaths of 1.7 million people, including the killing of thousands of Vietnamese villagers in cross-border raids.

In 1999, President Bill Clinton’s Senate impeachment trial began on grounds of perjury to a grand jury and obstruction of justice. The Republican-controlled House voted in October 1998 to start proceedings after months of controversy over Clinton’s relationship with White House intern Monica Lewinsky, with whom he denied having a sexual relationship. The Senate acquitted Clinton on Feb. 12, falling far short of the 67 votes needed to convict on each charge.

In 2015, masked gunmen stormed the Paris offices of Charlie Hebdo, a French newspaper that had caricatured the Prophet Muhammad, methodically killing 12 people, including the editor, before escaping. (Two suspects were killed two days later.)

In 2022, three white men convicted of murder after Ahmaud Arbery was chased and killed while jogging in a south Georgia community were sentenced to life in prison. The judge denied any chance of parole for the father and son who armed themselves and initiated the deadly pursuit of the 25-year-old Black man in 2020 after spotting him running in their neighborhood in Brunswick.

In 2023, Republican Kevin McCarthy was elected speaker of the U.S. House of Representatives in a historic post-midnight 15th ballot, overcoming holdouts from his own ranks after a chaotic week that tested the new GOP majority’s ability to govern.

Today’s Birthdays:

Musician Kenny Loggins is 78.
Actor David Caruso is 70.
TV journalist Katie Couric is 69.
Republican Sen. John Thune of South Dakota is 65.
Republican Sen. Rand Paul of Kentucky is 63.
Actor Nicolas Cage is 62.
Actor Jeremy Renner is 55.
Country singer-musician John Rich is 52.
Formula 1 driver Lewis Hamilton is 41.
NFL quarterback Lamar Jackson is 29.
Actor Marcus Scribner is 26.
Jay-Z and Beyoncé’s daughter Blue Ivy Carter is 14.