Paramount goes hostile in bid for Warner Bros., challenging a $72 billion offer by Netflix
NEW YORK (AP) — Paramount has launched a hostile takeover bid for Warner Bros. Discovery. The effort announced Monday initiates a potentially bruising battle with Netflix to buy the company behind HBO and CNN, along with the power to reshape much of the nation’s entertainment landscape. Emerging just days after Netflix reached a $72 billion deal to acquire Warner Bros., the takeover attempt means Paramount will go straight to Warner shareholders with a bid worth about $74.4 billion, or $30 per share in cash. Unlike Netflix, Paramount is also offering to buy the cable television assets of Warner Bros.
What to know about Paramount's hostile bid for Warner Bros. Discovery
NEW YORK (AP) — Warner Bros. Discovery’s friendly agreement to sell itself to Netflix just got upended by a hostile actor. Paramount made Warner shareholders a higher offer on Monday and touched off what is likely to be a lengthy fight in the latest episode of media industry consolidation. Paramount's all-cash offer is worth about $74.4 billion, while Netflix agreed to buy Warner for $72 billion in cash and stock. Both offers will face regulatory scrutiny, and President Donald Trump has promised to weigh in. Shareholders have until Jan. 8, 2026, to vote on Paramount’s offer.
Asian shares slip after Wall Street pulls back from its record heights
BANGKOK (AP) — Asian shares are mostly lower after U.S. stocks pulled away from their record heights. U.S. futures edged higher and oil prices slipped. On Monday, the S&P 500 slipped 0.3% for its second loss in 11 days, but it remains near its all-time high set in October. The Dow Jones Industrial Average dropped 0.4% and the Nasdaq composite edged 0.1% lower. Berkshire Hathaway fell after announcing a shake-up of some of its leadership. Warner Bros. Discovery jumped after Paramount took an offer to buy the company directly to shareholders. Treasury yields rose ahead of the Federal Reserve’s Wednesday meeting. The wide expectation is for it to cut interest rates but hint at fewer cuts in 2026.
Trump is giving farmers $12B in aid. They've been hit hard by his trade war with China
WASHINGTON (AP) — President Donald Trump is giving farmers some $12 billion in aid to help as they struggle to sell their crops while getting hit by rising costs. The move Monday comes after the president raised tariffs on China as part of a broader trade war. China has since agreed to buy more U.S. soybeans, but sales have so far been slow. Farmers have backed Trump politically but his aggressive trade policies and frequently changing tariff rates have come under increasing scrutiny. Agriculture Secretary Brooke Rollins said farmers will get the money by the end of February. Payments will be limited to no more than $155,000.
Trump approves sale of more advanced Nvidia computer chips used in AI to China
WASHINGTON (AP) — President Donald Trump says he will allow Nvidia to sell its H200 computer chip used in the development of artificial intelligence to “approved customers” in China. Trump said Monday on his social media site that he had informed China’s leader Xi Jinping and “President Xi responded positively!” There had been concerns about allowing advanced computer chips into China as it could help them to compete against the U.S. in building out AI capabilities. But there has also been a desire to develop the AI ecosystem with American companies such as chipmaker Nvidia.
Trump says Netflix deal to buy Warner Bros. 'could be a problem' because of size of market share
WASHINGTON (AP) — President Donald Trump says a deal struck by Netflix to buy Warner Bros. Discovery “could be a problem” because of the size of the combined market share. The Republican president says he will be involved in the decision about whether federal regulators should approve the deal. Trump commented Sunday when he was asked about the deal as he walked the red carpet at the Kennedy Center Honors. The $72 billion deal would bring together two of the biggest players in television and film and potentially reshape the entertainment industry. Asked again Monday, however, Trump said he didn't know much about the deal and would have to better study market share. “I want to do what's right,” he said.
Government waives part of a Biden-era fine against Southwest Airlines
The U.S. Department of Transportation is waiving part of a fine assessed against Southwest Airlines after the company canceled thousands of flights during a winter storm in 2022. Under a 2023 settlement reached by the Biden administration, Southwest agreed to a $140 million civil penalty for violating consumer protection laws. Most of that money went toward compensation for travelers, but the airline agreed to pay $35 million to the U.S. Treasury in three installments. On Friday, the Transportation Department issued an order waiving the final $11 million installment. The department said Southwest should get credit for significantly improving its on-time performance and investing in network operations.
Bessent divests from soybean farmland ahead of Trump aid announcement for farmers
WASHINGTON (AP) — Treasury Secretary Scott Bessent says he has divested from his North Dakota soybean farmland. This move comes as he leads Trump administration negotiations with China over trade and tariffs. Bessent announced his divestment Sunday on CBS’s “Face the Nation.” He had previously expressed empathy for U.S. farmers affected by the trade war. An ethics agreement required him to divest his investment, which was through a family partnership. On Monday, Trump is set to announce a $12 billion farm aid package to support struggling U.S. farmers.
Federal judge throws out Trump order blocking development of wind energy
WASHINGTON (AP) — A federal judge has struck down President Donald Trump’s executive order blocking wind energy projects, saying the effort to halt virtually all leasing of wind farms on federal lands and waters was “arbitrary and capricious” and violates U.S. law. Judge Patti Saris of the U.S. District Court for the District of Massachusetts vacated Trump’s Jan. 20 executive order. Saris ruled in favor of a coalition of state attorneys general from 17 states and Washington, D.C., led by New York's attorney general, that challenged Trump’s Day One order that paused leasing and permitting for wind energy projects. The White House says offshore wind projects were given unfair, preferential treatment during the Biden administration.
EU leader warns of US interference in Europe's affairs as Russia praises Trump's security vision
BRUSSELS (AP) — A top European Union official has warned the United States against interfering in European affairs. European Council President António Costa was reacting Monday to the Trump administration's new national security strategy. The document criticizes European allies and offers tacit support to far-right parties in Europe. Costa emphasized that only European citizens can choose their political leaders. The strategy released Friday questions Europe's free speech and migration policies. It underlines the importance of ending Russia's war in Ukraine and improving U.S.-Russia relations. But Costa says it focuses chiefly on the end of hostilities rather than peace and on the stability of relations with Russia.
