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Ted Sarandos speaks out on why Netflix dropped bid to buy Warner Bros. Discovery

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Netflix CEO Ted Sarandos to testify on $72 billion Warner Bros merger deal

Netflix co-CEO Ted Sarandos said Sunday he knew “right away” he would decline to counter Paramount’s winning attempt to buy Warner Bros. Discovery, admitting rival chief executive David Ellison made a superior offer. 

Netflix dropped its bid to buy Warner Bros. Discovery on Thursday after the company announced Paramount’s latest bid to buy all of its assets, including CNN, was “superior.”

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“We had a very tight range that we’d be willing to pay and made that offer back when we closed this deal. We hadn’t moved much from that, except for moving to cash, which served to move the deal faster. I’m happy where we got in and happy where we got out,” Sarandos told Bloomberg

“We knew right away, when we got the notice on Thursday that they had a superior offer and the details of that deal,” he continued. “We knew exactly what we were going to do.” 

NETFLIX BACKS OUT OF WARNER BROS BIDDING WAR AFTER PARAMOUNT MADE ‘SUPERIOR’ OFFER

Ted Sarandos Netflix CEO

Netflix co-CEO Ted Sarandos said he knew “right away” he would decline to counter Paramount’s latest attempt to buy Warner Bros. Discovery. (David Benito/FilmMagic via Getty Images / Getty Images)

In December, Warner Bros. announced it had reached a deal with Netflix to buy the Hollywood studio and HBO for $83 billion, prompting Paramount to launch a $108 billion hostile takeover bid for the entire company, including all of its cable assets like CNN, which would have been spun off into a separate company under the Netflix deal.

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Sarandos suggested that President Donald Trump was largely interested in the deal because of CNN, the news network that he has long criticized. 

“Once it was clear that we weren’t in the CNN business, it was a lot less interesting. He didn’t care that much more about our deal,” he said.

Sarandos predicted that Paramount Skydance Corp. will ultimately need to slash a significant number of jobs. His comment came after CNN insiders told Fox News Digital that staffers feel “a mix of despair, apprehension and curiosity” as they await details. 

“It would be less production, less people working,” Sarandos told Bloomberg. 

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MOOD IS ‘HORRIFIC’ INSIDE CNN AS STAFFERS BRACE FOR CHANGE AMID POTENTIAL PARAMOUNT TAKEOVER, INSIDERS SAY

ted sarandos netflix co-ceo

Netflix co-CEO Ted Sarandos told Bloomberg he was “happy where we got out” of the bid to buy Warner Bros. Discovery. (Charley Gallay/Getty Images for Netflix / Getty Images)

Paramount’s revised offer raised WBD’s value to $31 per share, putting the company’s valuation at $111 billion. Paramount will additionally pay the $2.8 billion termination fee to Netflix after WBD backed out of their deal.

Ellison’s billionaire father, Larry Ellison, is personally backing Paramount’s bid, committing $45.7 billion in equity through the Ellison Trust, while Bank of America Merrill Lynch, Citi and Apollo will provide a $57.5 billion debt commitment.

The Netflix honcho also said Paramount has major regulatory hurdles to clear.

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“Even when we were thinking about keeping these businesses together and running, we knew that we had a difficult task ahead of integration. I can’t imagine doing all that and trying to cut billions and billions of dollars. Today, Paramount has half of the people that they had one year ago. So that gives you some sense of where this is heading for the town and for the business,” Sarandos said. 

Last month, Trump called on Netflix to fire board member Susan Rice immediately or “pay the consequences” after the former Obama official warned that corporations she said had “taken a knee” to Republican pressure should not expect forgiveness from Democrats if they return to power.

PARAMOUNT REFUSES TO BACK DOWN IN WARNER BROS. DISCOVERY TAKEOVER FIGHT AGAINST NETFLIX

Trump points during campaign rally

President Donald Trump largely lost interest in the Netflix deal once CNN wasn’t involved, according to Ted Sarandos.  (Joe Raedle/Getty Images / Getty Images)

Sarandos told Bloomberg he spoke with Rice but never considered removing her from the board. 

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CNN has largely embraced anti-Trump programming for much of the last decade, and the president has responded by publicly criticizing the network on a regular basis. Last year, The Wall Street Journal reported that Ellison told Trump officials that he’d make sweeping changes to CNN if he became its owner. 

One CNN insider said they were trying to keep an “open mind” but said it’s easy to understand why staffers are upset given the reporting on Ellison and Trump discussing changes.

“It’s existential for the brand to be owned by an individual who has personal allegiance to a political figure and is not even answering to public markets,” they told Fox News Digital

The White House didn’t immediately respond to Fox News Digital’s request for comment.

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Fox News Digital’s Joseph A. Wulfsohn contributed to this report. 

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Viavi Solutions EVP McNab sells $116k in stock

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Viavi Solutions EVP McNab sells $116k in stock

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Middle East military unrest cancels flights, strands travelers globally

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Middle East military unrest cancels flights, strands travelers globally

Unrest in the Middle East is crippling global air travel and disrupting flight schedules for many carriers, leaving passengers stranded at airports abroad.

Airlines across the world canceled flights after Israel and the U.S. launched a joint attack on Iran as part of Operation Epic Fury.

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Emirates temporarily suspended operations to and from Dubai due to the unrest in the region. It said it will resume operations of a “limited number” later on Monday and will prioritize customers with earlier bookings.

HEGSETH URGES US TROOPS TO ‘STAY FOCUSED’ AS OPERATION EPIC FURY DEVASTATES IRAN

Etihad said in a statement that all scheduled commercial flights to and from Abu Dhabi remain suspended until 2 p.m. UAE time on March 4. The carrier said that some “repositioning, cargo and repatriation flights may operate with UAE authorities and subject to strict operational and safety approvals.”

Passengers stranded at an airport.

Emirates and Etihad Airways temporarily suspended operations to and from Dubai. (Johannes Christo/Reuters)

Both carriers urged passengers not to travel to the airport unless notified by the airline.

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Mainline U.S. carriers with operations in the Middle East have canceled flights and issued travel waivers to customers.

American Airlines

American Airlines airplanes parked at New York's John F. Kennedy International Airport

The U.S. and Israel launched a joint attack on Iran as part of “Operation Epic Fury.” (Michael Nagle/Bloomberg via Getty Images)

American Airlines said passengers traveling to, through or from Abu Dhabi, UAE; Amman, Jordan; Bahrain, Bahrain; Doha, Qatar; Dubai, UAE; and Larnaca, Cyprus, are eligible to have change fees waived if they:

  • Are traveling on an American Airlines flight
  • Are booked in any fare class, including Basic Economy
  • Bought a ticket by Feb. 27, 2026
  • Are scheduled to travel Feb. 28, 2026 –March 15, 2026
  • Can travel Feb. 28, 2026 – March 29, 2026
  • Don’t change the origin or destination city
  • Rebook in the same cabin or pay the difference
  • Cancel the trip and request a refund

Delta Air Lines

Delta Airlines plane

Delta canceled flights to and from Tel Aviv due to unrest in the Middle East. (Patrick van Katwijk/Getty Images)

Delta Air Lines canceled flights from New York’s John F. Kennedy International Airport to Tel Aviv, Israel, through March 8, and from Tel Aviv to JFK through March 9. The carrier said customers affected by flight cancellations will receive notifications. Customers scheduled to travel from Feb. 28 to March 31 are able to reschedule travel or cancel their reservation.

OIL PRICES SURGE AFTER STRIKES KILL IRAN’S SUPREME LEADER, TANKERS HIT NEAR STRAIT OF HORMUZ

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Customers who opt to cancel their reservation can receive a refund for the unflown portion of their ticket through Delta’s website, or the unused value of the ticket will be issued as an e-credit that can go toward a new ticket.

The fare difference will be waived for passengers who rebook travel on or before April 15, 2026, in the same cabin as originally booked. A fare difference may apply if the original booking class is not maintained in the rebooked itinerary. If travel occurs after April 15, 2026, the airline said the change fee will be waived but a difference in fare may apply.

United Airlines

United Airlines Plane

United canceled service to Dubai and Tel Aviv through March 4 and March 6, respectively. (Tayfun Coskun/Anadolu Agency via Getty Images)

United Airlines canceled service from the U.S. to Dubai through March 4 and from the U.S. to Tel Aviv through March 6. The carrier issued two waiver notices related to unrest in the Middle East.

Customers who purchased tickets for flights to or from Dubai or Tel Aviv on or before Feb. 27, 2026 with original travel dates through March 7, 2026, are able to reschedule the trip and will not be charged wave fees or fare differences.

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However, the new flight must be a United flight that departs between Feb. 28 and March 15. The airlines said tickets must be in the same cabin and between the same cities as originally booked.

MUSK POINTS TO HIGHEST ‘EVER’ USAGE OF X AMID US-ISRAEL STRIKES ON IRAN

Change fees will be waived for customers who booked a new trip after Feb. 27, 2027, or to a different destination, though they may need to pay a fare difference. Travelers can receive a full refund if they cancel or don’t take the trip.  

The second notice covers Dubai and Tel Aviv as well as airports in Abu Dhabi, Beiruit, Lebanon, and Erbil, Iraq.

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Customers who purchased tickets on or before Feb. 28, 2026 with original travel dates between March 8 and March 31, 2026, can reschedule without change fees or fare differences.

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The new flight must be a United flight that departs between March 1 and March 31, 2026. The airlines said tickets must be in the same cabin and between the same cities as originally booked.

Change fees will be waived for customers who booked a new trip after March 1, 2027, or to a different destination, though they may need to pay a fare difference.

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Emirates’ first flight out of Dubai takes off

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Emirates' first flight out of Dubai takes off

A passenger Mohd Umardaraz from Bijnor Uttar Pradesh stranded at Terminal-3 Delhi airport after his flight for Kuwait is cancelled due to airspace restrictions over Iran and parts of the Middle East on March 1, 2026 in New Delhi, India.

Arvind Yadav | Hindustan Times | Getty Images

The first Emirates flight out of Dubai, United Arab Emirates, since the U.S. and Israel attacked Iran took off Monday night bound for Mumbai, India, flight data showed, hours after the airline got the green light from local authorities to resume a “limited number” of flights.

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It’s a sign of how airlines are preparing to restart service to the region after thousands of flight cancellations.

Emirates flight EK500 departed at 9:12 p.m. local time, according to Flightradar24, a flight-tracking site. The flight was operated on an Airbus A380, the world’s biggest passenger plane.

Separately, Israeli airline El Al said Monday that it’s considering chartering private jets to bring stranded Israeli citizens home.

The announcements mark a potential improvement after air travel ground to a halt in a large swath of the Middle East over the weekend following the U.S.-Israeli strikes on Iran and subsequent retaliatory strikes.

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The attacks shut airspace over a large part of the region, stranding hundreds of thousands of customers around the world and leading to thousands of canceled flights, including those who weren’t flying to and from the area since aircraft couldn’t transit those zones. Dubai is one of the busiest air travel hubs in the world.

The airport authority that owns and manages airports in Dubai said a small number of flights would be permitted to operate from Dubai International and Dubai World Central – Al Maktoum International, but advised travelers to check with their airlines.

For its part, Emirates said it will start operating a “limited number of flights” Monday night and urged customers not to go to the airport unless notified by the airline.

“We are accommodating customers with earlier bookings as a priority,” it said in a post on X. “All other flights remain suspended until further notice,” it said.

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El Al said it is considering hiring KlasJet planes to take passengers from European airports to Aqaba, over southern border in Jordan, for customers of the airline. It previously considered flying in and out of Taba, Egypt, but later Monday said that plan was scrapped “due to the lack of approval from the security authorities in Israel.”

Abu Dhabi-based Etihad Airways said Monday that all commercial flights to and from the city are suspended until afternoon local time on Wednesday, though it could operating some cargo and repatriation flights “subject to strict operational and safety protocols.”

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Prologis, Inc. (PLD) Presents at Citi’s Miami Global Property CEO Conference 2026 Transcript

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OneWater Marine Inc. (ONEW) Q1 2026 Earnings Call Transcript

Prologis, Inc. (PLD) Citi’s Miami Global Property CEO Conference 2026 March 2, 2026 11:00 AM EST

Company Participants

Dan Letter – CEO & Director
Timothy Arndt – Chief Financial Officer

Conference Call Participants

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Nicholas Joseph – Citigroup Inc. Exchange Research
Craig Mailman – Citigroup Inc., Research Division

Presentation

Nicholas Joseph
Citigroup Inc. Exchange Research

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Welcome to Citi’s 2026 Global Property CEO Conference. I’m Nick Joseph here with Craig Mailman with Citi Research. Pleased to have with us Prologis and CEO, Dan Letter.

This session is for Citi clients only, and disclosures have been made available at the corporate access desk. [Operator Instructions] Dan, we’ll turn it over to you to introduce the company and team, provide any opening remarks, let investors know the top reason to buy the stock today, and then we’ll get into Q&A.

Dan Letter
CEO & Director

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Great. Thanks for having me.

Nicholas Joseph
Citigroup Inc. Exchange Research

You just — yes, press the red button.

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Dan Letter
CEO & Director

It was on. There we go. All right. Thanks for having us. Again, I’m Dan Letter, CEO of Prologis. To my left here is Tim Arndt, our Chief Financial Officer; and to his left is Justin Me Justin Mang, our Global Head of Investor Relations.

Prologis, we are the global leader in logistics real estate. We have over $230 billion of assets under management. That’s 1.3 billion square feet, 6,000 buildings in 20 countries in markets that represent 78% of the world GDP. We have about 7,000 customers in our portfolio. And our value proposition is quite simple, actually. We grow operating income ahead of inflation with the best portfolio and the best platform in the business. We create significant value through our development franchise.

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We have an unmatched development franchise going back nearly 30 years, best-in-class

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McDonald’s celebrates National Egg McMuffin Day with $1 deal

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McDonald's celebrates National Egg McMuffin Day with $1 deal

McDonald’s is celebrating National Egg McMuffin Day with a limited-time deal for customers.

The fast-food giant is offering customers its classic breakfast sandwich or Sausage McMuffin with Egg for $1 on Monday during breakfast hours. In order to receive the deal, the McMuffin must be ordered through the McDonald’s mobile app.

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The McMuffin traces its roots to Santa Barbara, California, in early 1971. McDonald’s owner/operator Herb Peterson developed the idea for the sandwich when a version of Eggs Benedict – particularly the Hollandaise sauce – didn’t make the cut. A slice of cheese replaced the sauce, and along with Canadian bacon, an egg and English muffin, the sandwich was created, according to McDonald’s.

A McMuffin sandwich on a table.

McDonald’s Egg McMuffin sandwich was created in 1971. (McDonald’s Corp.)

MCDONALD’S FINDS WINNING RECIPE IN VALUE MEAL DEALS AS DINERS RETURN

It entered test markets the following year and was served open-faced with honey or jam on a small tray. It cost 63 cents, equivalent to about $4.99 today.

Ticker Security Last Change Change %
MCD MCDONALD’S CORP. 341.06 +6.53 +1.95%

BURGER KING MAKES CHANGES TO SIGNATURE WHOPPER FOR FIRST TIME IN NEARLY A DECADE

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McDonald’s CEO Chris Kempczinski said during the company’s third-quarter earnings call in November that breakfast is typically the most “economically sensitive daypart” for the business.

“It’s an easy daypart to either skip the meal or to eat the meal at home,” he said. “Breakfast continues to be under pressure as a daypart industry-wide. We’re holding share in breakfast. So we’re doing okay in that segment, but we are still seeing that daypart is under pressure.”

An exterior view of a McDonald's fast food restaurant.

McDonald’s has focused heavily on limited-time promotions and value meals to bring back customers. (Paul Weaver/SOPA Images/LightRocket)

McDonald’s has focused intently on limited-time promotions and value meals as a way to bring budget-conscious Americans back to its restaurants.

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The strategy appears to be working as U.S. sales rose 6.8% in the fourth quarter – the biggest jump in about two years – and lower-priced offers and aggressive promotions drove traffic back into restaurants. Analysts had expected a smaller 4.9% gain.

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Gordon Chang warns China could see “real problems” from Iran oil halt

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Gordon Chang warns China could see "real problems" from Iran oil halt

With Strait of Hormuz traffic nearly halted, China’s reliance on Iranian oil could trigger “real problems” within two months if the crisis continues, one expert warned.

Gatestone Institute senior fellow Gordon Chang joined FOX Business’ Maria Bartiromo on “Mornings with Maria” to assess how escalating tensions around the Strait of Hormuz could reverberate through China’s fragile, export-dependent economy.

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OIL PRICES SURGE AFTER STRIKES KILL IRAN’S SUPREME LEADER, TANKERS HIT NEAR STRAIT OF HORMUZ

Oil tanker in Strait of Hormuz

Oil tanker at a port in the Strait of Hormuz. (Giuseppe CacaceI/AFP via Getty Images)

Chang noted that a significant share of China’s discounted Iranian crude, vital for its independent “teapot” refiners, typically transits the narrow waterway, where ships are now largely stalled north and south of the Strait.

“Much of that oil… actually goes to China trying to get somewhere between… 15% and 23% of its seaborne oil from Iran, and that oil transits the Strait of Hormuz,” Chang said.

He added that while Beijing has diversified supplies, the loss of heavily discounted barrels comes at a vulnerable moment for factories dependent on cheaper energy.

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“This will go through the system, and I suspect you will see real problems in about two months in China if this situation continues,” Chang said.

Hayman Capital Management founder and CEO Kyle Bass also joined FOX Business’ Maria Bartiromo to discuss market reaction and the broader energy shock rippling through global supply chains.

OIL MARKETS ON EDGE AS IRAN MOVES TO RESTRICT VITAL STRAIT OF HORMUZ SHIPPING LANE, REPORT SAYS

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Bass pointed to insurance withdrawals and the strategic weight of the choke point, warning that even a temporary disruption could send front-month crude prices sharply higher.

“About a third of the world’s seaborne crude flows through that strait every day. Fifty percent of China’s imports flow through that strait every day. And right now, things are not going through the strait,” Bass said.

“If 10 million barrels goes missing or gets delayed for a week, there’s no telling where the front end can go,” Bass added.

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With insurers retreating, LNG shipments disrupted and tanker traffic effectively frozen, the crisis underscores how a five-mile-wide passage can shape the economic trajectory of the world’s second-largest economy.

“We’re at risk of a pretty major oil price spike here,” Bass said.

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Oil Markets Face Iran Conflict With Little in Reserve

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Companies Race to Reassure and Relocate Employees Caught in Middle East Conflict

Escalating tensions with Iran are hitting a global oil market stripped of its usual shock absorbers, risking severe price spikes if supplies are disrupted.

OPEC and its Russia-led allies are set to meet Sunday, and analysts anticipate an agreement to increase supply. However, any actual output boosts will be constrained by the group’s limited spare production capacity, according to a note to clients by RBC Capital Markets.

Typically, major producers boost production using their spare capacity to stabilize markets during crises. But almost every member of the OPEC+ grouping of countries is already producing at near maximum levels, analysts say. According to a report by Barclays, both spare capacity and above-ground inventories, measured in days of demand they cover, are tighter now than before the 2022 invasion of Ukraine, leaving Saudi Arabia as the sole producer with a meaningful buffer.

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J.M. Smucker taps activist investor, expands board

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J.M. Smucker taps activist investor, expands board

Information-sharing agreement part of engagement with Elliott Investment Management.

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Form 144 ALLEGRO MICROSYSTEMS For: 2 March

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Form 144 ALLEGRO MICROSYSTEMS For: 2 March

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ADT Inc. (ADT) Q4 2025 Earnings Call Transcript

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OneWater Marine Inc. (ONEW) Q1 2026 Earnings Call Transcript

ADT Inc. (ADT) Q4 2025 Earnings Call March 2, 2026 10:00 AM EST

Company Participants

Elizabeth Landers – Investor Relations Officer
James DeVries – CEO, President & Chairman
Omar Khan – Executive VP & Chief Business Officer
Jeffrey Likosar – CFO and President of Corporate Development & Transformation

Conference Call Participants

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Keen Fai Tong – Goldman Sachs Group, Inc., Research Division
Peter Christiansen – Citigroup Inc., Research Division
John Ronan Kennedy – Barclays Bank PLC, Research Division
Ashish Sabadra – RBC Capital Markets, Research Division
Gregory Parrish – Morgan Stanley, Research Division

Presentation

Operator

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Thank you for standing by, and welcome to the ADT Fourth Quarter and Full Year 2025 Earnings Conference Call. [Operator Instructions]

I’d now like to turn the call over to Elizabeth Landers, Vice President, Investor Relations. You may begin.

Elizabeth Landers
Investor Relations Officer

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Good morning, and thank you for joining us today to discuss ADT’s fourth quarter and full year results. Speaking on today’s call are Jim DeVries, ADT’s Chairman, President and CEO; Jeff Likosar, our CFO; and Omar Khan, our Chief Business Officer.

We are structuring today’s call a bit differently with the majority of the call focused on our strategy and key priorities to position ADT for the future. Jim will start with a broad strategic update, focusing on how we’re reshaping the future of smart home security. Omar will then describe more about our recent acquisition of Origin AI, and then Jeff will briefly describe our 2025 financial results as well as our long-range financial outlook and capital allocation priorities. After their prepared remarks, we’ll open the call for analyst questions.

This morning, we issued a press release and presentation summarizing our financial results. Both are available at investor.adt.com. We’ll reference our non-GAAP financial measures today. Reconciliations to the most comparable GAAP measures are included in the earnings presentation on our

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