Media Mergers
4 bullish · 1 bearish · 1 neutral · exact words, dated and sourced
+5Will the biggest media deals close? Named voices on Paramount-Warner Bros Discovery and what follows.
The tape
Jul 13
Jul 20
Aug 10
bullishbearishclaims filed per week
What the people who move markets are saying about this, in their own words. These are views on the record, not scored bets: when a call here grows a number and a deadline, it moves to the scoreboard. Newest first.
Bullish
Scott Berg of Needham tells Bloomberg that payroll-software comps at ~5x revenue imply a fair Workday takeout price of $240-250 in a Silver Lake deal.
both were taken up just above five times revenue. You know that would put a work day share price in that 240 to 250 ranges as I mentioned in my note today.
Neutral
Kelly Lerner, antitrust lawyer, tells Bloomberg that if the NFL's pooled broadcast-rights power were broken up, less money would flow to the league because teams would negotiate individually, and fan prices would fall.
And so the reality is that if you broke up that concentration of power there would ultimately be less money flowing to the NFL league overall because each team would be negotiating on its own merit.
Bullish
A federal judge in Oakland paused Paramount's $110B WBD takeover for 14 days (CA + 11 states sued July 13). Palmieri notes WBD shares only down ~4% and the antitrust suit focused narrowly on movies (<30% share), calling it 'almost a relief for investors'; says a close is 'definitely not July 22nd' (@8:02) but expects a face-saving agreement.
“I think the market's reaction indicates that something will happen, that there's some sort of agreement will be reached.”
Bullish
On the ~$53B ($60/share) Stripe-Advent-Block offer for PayPal, Chamath says the final price will be higher and hints a strategic ('$4-5 trillion market cap') bidder could enter.
“this is probably not the final clearing price. I think the price is probably another 10 to 15% higher from here.”
Bullish
Scale thesis: only Netflix (30%) and Disney (12%) have double-digit streaming margins, 'then everybody falls off a cliff' (@9:31). 'The key for who is going to win is the company that can combine content with technology' (@11:43); Disney 'making progress', Ellison's Paramount 'trying' ('we're not closed yet'). Tech giants 'don't actually understand quality content yet' (@11:36). He is a paid adviser to both Paramount and Disney.
“I would say that if a content company doesn't become really tech native they'd have a problem”
Bearish
Leads 12 state AGs suing to block the $110B Paramount-Warner Bros Discovery merger after DOJ sign-off, EU ruling expected next week; 'We're going to block the merger with a restraining order or a preliminary injunction.' (@31:12); conditional: 'If this proposed merger goes through, the cost to go to a movie will go up.' (@32:05); principal talking his own case
“We're going to win this case ultimately, whether it be at the trial level, the intermediate appellate level, or the US Supreme Court.”
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© 2026 Pundit Rumble · independent and unaffiliated · updated every market morning · not investment advice.
We write down what public figures predict, in their exact words, and check the result when the deadline arrives. Every line links to its source. How we score · Corrections · The scoreboard · The data
© 2026 Pundit Rumble · independent and unaffiliated · updated every market morning · not investment advice.