Wall Street Breakfast Netflix taps out on WBD
Feb 27, 2026
Paramount wins the bidding for Warner Bros after Netflix steps back, triggering a large breakup fee. Anthropic refuses unrestricted Pentagon access to its AI models amid national security pressure. Burger King gives the Whopper its first big refresh in over a decade. Markets buzz with Bitcoin banking integration plans, a new Meta-Google AI chip deal, and ASML chipmaking production news.
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Netflix Exits Warner Bros Bidding
- Netflix withdrew from bidding because Paramount Skydance's revised all-cash $31 per share offer made a higher price unattractive to Netflix.
- Warner Bros. Discovery must pay Netflix a $2.8 billion breakup fee, and Paramount's $31 offer values WBD at about $108 billion, shifting market moves pre-open.
Anthropic Pushes Back Against Pentagon Demands
- Anthropic refused the Pentagon's demand for unrestricted lawful-use access, explicitly excluding mass domestic surveillance and fully autonomous weapons.
- The company cited conscience and ongoing tense negotiations while the Pentagon warned of supply chain risk or invoking the Defense Production Act.
Whopper Gets First Major Refresh In Years
- Burger King updated the Whopper for the first time in nearly a decade with a premium bun, better-tasting mayo, and new boxed packaging to preserve quality.
- Restaurant Brands International unveiled the changes at Investor Day and QSR shares rose about 3.3% on the announcement.