CNBC's "Fast Money" The Global Rate Rise and the Battle for Warner Bros. Discovery. 12/8/25
Dec 8, 2025
Karen Finerman, a professional trader known for her market insights, and Robert Fishman, an equity analyst specializing in media, dive into the implications of rising global yields and discuss whether Warner Bros. Discovery will sway shareholders amidst a hostile bid from Paramount Skydance. They tackle the valuation concerns surrounding WBD and debate the competitive edge between Netflix and Paramount. The panel also explores the broader impact of these developments on the media landscape and volatility in the stock market.
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Stock Decline Weakens Netflix's Bid Collar
- Netflix's collar structure and a falling stock price weaken its initial bid economics.
- That creates room for Netflix to widen terms or adjust shares if it wants to continue bidding.
Prefer Netflix As The Tactical Trade
- Consider buying Netflix over WBD during the takeover saga because Netflix is being discounted by deal overhang.
- The market already prices in much of the takeover risk, making Netflix the tactical play, per Guy Adami.
Unsolicited Bids Can Reveal Hidden Asset Value
- One unsolicited bid often unlocks hidden value in undervalued media assets.
- Robert Fishman says the first bid revealed that WBD was not being fully credited by investors.