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Netflix has announced that it intends to buy legendary Hollywood studio Warner Bros. in a deal valued at approximately $82.7 billion. The deal, which must be approved by regulators, will further consolidate the entertainment industry and give Netflix ownership of some of the most iconic films and television franchises ever, not to mention HBO. Heres what you need to know: Whats happened? Today, Netflix and Warner Bros announced a deal in which Netflix will purchase the legendary Hollywood studio, along with its HBO Max and HBO divisions, for a total enterprise value of approximately $82.7 billion (which Netflix says has an equity value of $72.0 billion). The deal isnt exactly a surprise, as Warner Bros had previously put itself up for sale publicly and Netflix was expected to be one of the primary bidders for the companys assets. However, the deal marks a major milestone for the streaming giant, which is not known for large-scale acquisitions. The news comes after Warner Bros. Discovery, the company’s owner, announced this summer that it would split the current company into two, with the new ones owning its Streaming & Studios assets and Global Networks divisions, respectively. With todays announcement, Netflix is essentially buying the Streaming & Studios company that will spin off from Warner Bros. Discovery next year. When the deal closes, Netflix says each WBD shareholder will receive $23.25 in cash as well as $4.50 in shares of Netflix common stock for every share of WBD common stock they own. Announcing the deal, Greg Peters, co-CEO of Netflix, said, With our global reach and proven business model, we can introduce a broader audience to the worlds [Warner Bros. creates]giving our members more options, attracting more fans to our best-in-class streaming service, strengthening the entire entertainment industry and creating more value for shareholders. What IP will Netflix acquire under the deal? Netflixs purchase deal for Warner Bros, HBO Max, and HBO will give the streaming giant ownership over one of the most lucrative intellectual property portfolios out there. If the deal closes, Netflix will own: DC Universe Batman Superman Wonder Woman Friends Game of Thrones The Big Bang Theory The Harry Potter film franchise Touching on the IP aspect of the deal, Ted Sarandos, co-CEO of Netflix, said, Our mission has always been to entertain the world. By combining Warner Bros. incredible library of shows and moviesfrom timeless classics like Casablanca and Citizen Kane to modern favorites like Harry Potter and Friendswith our culture-defining titles like Stranger Things, KPop Demon Hunters and Squid Game, we’ll be able to do that even better. What has Warner Bros said about the deal? In a statement, David Zaslav, president and CEO of Warner Bros. Discovery, said, Todays announcement combines two of the greatest storytelling companies in the world to bring to even more people the entertainment they love to watch the most.” When does the Netflix-Warner Bros deal close? Netflix says that it expects the transaction to close in the next 12-18 months, putting a likely closing date sometime in 2027. However, Netflix and Warner Bros can likely expect extreme regulatory scrutiny of their deal. While Netflixs and WBDs boards of directors unanimously approved the deal, it will not be finalized until regulators give the go-ahead. How have the companies’ stock prices reacted? Shares in Netflix Inc. (Nasdaq: NFLX) fell in premarket trading on Friday. As of this writing, Netflix stock is down just over 4%. Shares in Warner Bros. Discovery, Inc. (Nasdaq: WBD) were essentially flat in premarket trading as of this writing.
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E-Commerce
The U.S. Food and Drug Administration is warning people to stop using certain types of glucose monitor sensors after the company that makes them, Abbott Diabetes Care, said the devices were linked to seven deaths and more than 700 injuries.Certain FreeStyle Libre 3 and FreeStyle Libre 3 Plus sensors may provide incorrect low glucose readings, FDA officials said this week. Such readings over an extended period may lead people with diabetes to make bad treatment decisions, such as consuming too many carbohydrates or skipping or delaying doses of insulin.“These decisions may pose serious health risks, including potential injury or death,” the FDA said in the alert.The sensors are devices that measure glucose levels in fluid just beneath the skin to provide real-time measurements of sugar in the blood. Information from the sensor is sent wirelessly to a device or phone.The warning affects about three million sensors in the U.S. from a single production line, Abbott officials said in a statement. About half those devices have expired or been used, the company added. As of Nov. 14, the company reported seven deaths worldwide and 736 serious adverse events. No deaths occurred in the U.S., where 57 injuries were reported.Abbott has notified all customers of the problem. The company said it has identified and resolved the issue in the affected production lot.The FDA said people should stop using affected sensors and discard them.The problem involved FreeStyle Libre 3 sensors with model numbers 72080-01 with unique device identifiers 00357599818005 and 00357599819002. It also involved FreeStyle Libre 3 Plus sensors with model numbers 78768-01 and 78769-01 and unique device identifiers 00357599844011 and 00357599843014.People can visit www.FreeStyleCheck.com to check if their sensors are potentially affected and request a replacement, the company said. No other FreeStyle Libre products are affected.The Associated Press Health and Science Department receives support from the Howard Hughes Medical Institute’s Department of Science Education and the Robert Wood Johnson Foundation. The AP is solely responsible for all content. Jonel Aleccia, AP Health Writer
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E-Commerce
Scented candle lovers, the day you have waited for all year is finally here. Today marks the kick-off of the annual Candle Day sales event from Bath & Body Works, during which the retailer’s pricey scented wax pillars will go for just a third of their regular cost. Heres what you need to know about Candle Day 2025. What is Candle Day 2025? Candle Day is Bath & Body Works’ annual candle sale bonanza. Throughout the year, many of the companys three-wick candles go for $29.95 each, but during Candle Day, many of those candles can be had for prices as low as $9.95. Due to the massive savings, Candle Day is a sales event that candle lovers across America look forward to each year. However, dont let the Candle Day name fool you. Much like Amazon Prime Day, the title of the event is a bit misleading. As with Prime Day, Candle Day is not actually only a 24-hour event and instead runs across multiple days. During the event, Bath & Body Works says, over 180 varieties of candles will be on sale. When is Candle Day 2025? There are two different elements to Bath & Body Works Candle Day 2025: the online element and the in-store element. Candle Days deals are available both in-store and online, but the online portion of the sale actually kicks off earlier. For Candle Day 2025, the online (and mobile app) deals began at 10 p.m. last night, December 4. The in-store Candle Day event officially kicks off this morning at 6 a.m. Candle Day 2025 then runs both online and in-store from Friday, December 5, through Sunday, December 7. How much are Candle Day prices? Most three-wick candles at Bath & Body Works cost around $29.95 throughout the year. But during the Candle Day sales event, many of those same candles can be purchased for just $9.95. Customers will get the same sale price no matter if they shop online, in the mobile app, or in-store. Are there any new or limited-edition candles for Candle Day 2025? Yes. This year, Bath & Body Works is unveiling new, limited-time, and limited-edition candles for Candle Day 2025. The 2025 limited-edition candle is called Holiday Dill-ight, which the company describes as Inspired by the quirky holiday tradition.” The company is also unveiling several new candle collections. The Sunday Funday collection includes Neapolitan Ice Cream, Gummy Candies, Glazed Cherries, Butterscotch Swirl, Sugared Waffle Cone, and Hot Fudge Drizzle. The Perfect Pairings collection includes Coffee & Donuts, Chips & Salsa, Pizza & Ranch, and Popcorn & Slushie. And the Holiday Bucket List collection includes new candles like Rum Rum Reindeer and Christmas Road Trip, along with returning holiday favorites Sweater Weather, Merry Mimosa, and Vanilla Balsam. Candle Day 2025 marks the retailer’s 14th Candle Day event. It comes just days after Newell Brands, parent company of Yankee Candle, announced it would be closing 20 Yankee Candle stores this year. Bath & Body Works has also struggled this year, reporting a 1% decrease in net sales for its third quarter. It expects sales will decline in the “low single digits” for the full year. Shares in Bath & Body Works (NYSE: BBWI) are down almost 50% in 2025.
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E-Commerce
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