Loading summary
Transcript133 lines
- [00:00]
A
From Tokyo, Japan, and New Plymouth, New Zealand, this is down to Business English with your hosts, Skip Montreux and Samantha Vega.
- [00:23]
B
Samantha Vega.
- [00:24]
A
Well, hello, Skip.
- [00:26]
B
How are you? It's been a while, hasn't it?
- [00:27]
A
Yeah, it has been a while. I'm doing well, actually. Well, it's a new year. Happy Year. The horse.
- [00:33]
B
Are you sure it's the horse?
- [00:34]
A
I'm positive it's the horse.
- [00:36]
B
Wow. Okay. I'm a year behind. I thought it was something else. Okay. Happy New year. The horse. How was your New Year's?
- [00:44]
A
It was good. Pretty. Pretty mellow, but, you know, got some things done and it's been a while since we've had a chat. What have you been up to?
- [00:51]
B
Well, January did turn out to be quite a busy month for me. Lots of things going on, which I am afraid to say, interfered with us getting an episode of D2B Out.
- [01:01]
A
I kind of thought you were ghosting me there for a while. So it is nice to catch up with you again and. And welcome you into 2026. But are you ready to go now?
- [01:10]
B
Yes, yes. I have everything under control and I am raring to go with a new season of down to Business English.
- [01:16]
A
Nice one. Good to hear.
- [01:17]
B
So how about you?
- [01:18]
A
How.
- [01:18]
B
How was everything on your end?
- [01:20]
A
Oh, it was pretty good. Pretty, pretty chill New Year holiday and family just kind of stuck around home and I had a couple of weeks off. I didn't go back until almost the middle of January. So now I've got my nose to the grindstone and getting my work done on my end.
- [01:35]
B
Okay, well, that's good to hear. Did you do anything over the holidays?
- [01:39]
A
Yeah, I mean, caught up with family and that sort of stuff, but actually spent a lot of time binge watching. Binge watching TV shows.
- [01:45]
B
Oh, nice. What did you watch?
- [01:47]
A
Slow Horses with Gary Ullman. I really like Gary Ohman.
- [01:50]
B
Oh, yeah.
- [01:51]
A
So binge watched that British spy drama
- [01:55]
B
that's on Apple tv.
- [01:56]
A
Yeah, yeah, that's the one.
- [01:57]
B
Right?
- [01:58]
A
A Bunch of Misfits.
- [01:59]
B
Yeah, yeah, yeah. I have caught an episode of that.
- [02:02]
A
Yeah. So just binge watching. Really? That's kind of. I wish I had more to say, but that's been my fun over the holidays.
- [02:09]
B
Well, that's binge watching for you. It all starts with just one episode and suddenly it's 2am and you have watched half a season and you're thinking, okay, just one more episode.
- [02:19]
A
Yes, exactly. And because streaming services today, you've got so many options if you don't watch out that you'll never go Back to work.
- [02:28]
B
Well, you know, there is a lot going on in the streaming world right now.
- [02:32]
A
Like, what do you mean?
- [02:33]
B
Well, Netflix is at the center of a very big business story.
- [02:38]
A
Ah, business story. So not necessarily entertainment?
- [02:41]
B
No, it's very much a business story. Netflix has reached a deal with Warner Brothers Discovery to buy Warner's streaming assets and cable networks.
- [02:52]
A
Ah, yes, I did read about that. And I know it's a huge acquisition and I know that it's been ruffling a few feathers in the business world. Is that what we're reporting on today?
- [03:02]
B
Yes, it is. It was quite a rollercoaster ride getting to the final deal involving not only Netflix and Warner Brothers, but also Paramount Pictures. And you know, the deal isn't even 100% finished yet.
- [03:18]
A
All right, cool. Well, let's get to it.
- [03:19]
B
Yes, let's get D2B down to business with the Netflix Warner Bros. Discovery acquisition.
- [03:36]
A
So this whole deal was a bit of a rollercoaster ride. When did this fight start?
- [03:41]
B
This all started in early December when Netflix and Warner Brothers Discovery announced that they were in talks to reach some type of acquisition deal. On December 5th, they actually made an announcement that the Warner Brothers board had agreed to a Netflix offer where Netflix would buy Warner's studio and streaming assets while their cable networks would be separated into a different company.
- [04:11]
A
Okay, so it's not just a Netflix buys all sort of a thing. It was quite more specific. So not just the whole kit and caboodle.
- [04:18]
B
That's right. And that detail matters a lot in a little bit because the rival bid from Paramount isn't structured the same way as Netflix deal.
- [04:29]
A
Okay, so Paramount, what did they come to the table with?
- [04:33]
B
So on December 8th, Paramount launched a hostile bid. And in simple terms, what that means is they are bypassing Warner Brothers board and taking an offer straight to Warner Brothers shareholders.
- [04:50]
A
Okay, now is where the fight part comes in.
- [04:52]
B
This is where the fight comes in. So you've got two parties. Netflix on one side, Paramount on the other, wanting to purchase Warner Brothers.
- [05:01]
A
Okay, so exactly how are the deals different?
- [05:03]
B
The offers from Netflix and Paramount differ quite a bit. Netflix offer was just a partial acquisition, so like I said, it was only buying the streaming services and the movie business. Paramount on the other hand, was offering to purchase the entire Warner Brothers Discovery, including all their cable assets. The deal also differed in price. Netflix was offering a total of about $82.7 billion, which worked out to about $27.75 per share, whereas Paramount's offer was a lot more. It was approximately $108.4 billion. But it would buy the entire company, not just the movies and streaming service, but it would also include cable channels like cnn, TBS and tnt.
- [05:56]
A
They still have a piece of the pie left because they still, they still own companies like CNN and TNBS and tnt. Whereas Paramount, they might get a little bit more money initially, but they don't have any ties left to the company. It's all just a cash acquisition for them.
- [06:09]
B
That's right.
- [06:10]
A
Okay, so I've got my head around that now. So why did the board prefer the Netflix deal over the deal from Paramount?
- [06:19]
B
Well, that's a very good question and there's a lot to the answer. But basically Warner Brothers was very worried about whether Paramount could come up with the cash. They had a lot more confidence in Netflix being able to fund the acquisition. So when it came down to it, late in December, Warner Brothers officially recommended to their shareholders not to purchase or not to take Paramount up on their offer.
- [06:50]
A
Okay, so I guess it wasn't all cut and dry, though. I mean, were there shareholders that liked that offer? How many shareholders liked the Paramount deal?
- [06:57]
B
Not as many as you think. As of the deadline for taking Paramount up on the offer, only about 6.8% of shareholders sold their shares to Paramount, which was way below what they needed to acquire the company.
- [07:14]
A
Okay, so where do things stand now?
- [07:16]
B
On January 20, Netflix and Warner Brothers, they amended their agreement into an all cash deal. And what that means is Netflix, well, is basically paying all cash, or they simplified their previous financial structure and the board is planning on recommending this to the shareholders that they take or accept this offer.
- [07:39]
A
So it's basically the simplest offer and cash is king. This is the one that you should take.
- [07:45]
B
That's right. Now, Paramount is not taking things sitting down, so to speak. They have extended their deadline for shareholders to accept their offer. But industry experts say there's very little chance that they're going to raise enough finances to take over control of the country company from Netflix, from Netflix. So, yeah, Netflix is in, Paramount is out.
- [08:11]
A
So let's get back to the basic question. So what exactly is Netflix buying here?
- [08:17]
B
Well, as we mentioned, they're not buying everything, but they are getting Warner Brothers film and television studios and all the titles. That was part one of our report on Netflix's acquisition of Warner Brothers. Part two will be available later this week. So D2B members, be sure you are subscribed to your members only feed and Apple podcast subscribers. Part two will be in your app as soon as it's released in the second part of our conversation, Samantha and I continue to talk more in detail about what exactly Netflix is buying, the government's involvement in the process, and why. Some experts are worried about the impact the acquisition will have on the entertainment industry, so be sure not to miss it. But now it is time for Samantha and I to get D2V down to vocabulary with words and phrases from part one. The first item on today's DTV list is the expression to ghost someone. To ghost someone means you suddenly stop replying to their messages. No emails, no texts, no calls, just silence.
- [09:40]
A
You effectively end the relationship by just disappearing. I just loathe when people do that.
- [09:46]
B
It is not a nice experience, is it?
- [09:49]
A
No, it's extremely rude. I don't get why people can't just say, sorry, I'm busy. Even if it's not the truth, it's better than just disappearing.
- [09:58]
B
Yeah, I completely agree with that, Samantha. In the opening of today's report, Samantha said that she thought I had been ghosting her. She was joking that I had disappeared in January because we hadn't recorded in a while and I hadn't been in contact.
- [10:16]
A
In simpler terms, I was telling Skip that I thought he had been ignoring me.
- [10:20]
B
I would never do that.
- [10:22]
A
Oh, I hope not.
- [10:23]
B
Can you give us an example from the workplace?
- [10:26]
A
Imagine you have a meeting with a supplier and they promise to send updated product information. But two weeks go by and you don't hear anything. You follow up, but they still don't reply. If your boss asks you what's going on, you can say, I think they're ghosting us.
- [10:44]
B
And that usually tells you what you need to know, that the supplier probably isn't taking the relationship seriously.
- [10:53]
A
Next up is the phrase raring to go. If you're raring to go, you're extremely ready and eager to do something.
- [11:01]
B
Yeah. This phrase has a lot of energy. You're saying you are ready to jump in and start.
- [11:07]
A
In the introduction of today's story, Skip said that he was raring to go with the new season of down to Business English. He was telling us that he was fully prepared and excited to get started.
- [11:19]
B
In other words, I'm ready to start right now. Let's go.
- [11:24]
A
This is a great phrase to use in a business context.
- [11:27]
B
It is. For example, I'm waiting to hear back from a client about a proposal we sent them last month. I hope to get the green light next week because everyone on my team is raring to go with the project.
- [11:40]
A
Hmm. Yeah. That's a very realistic example.
- [11:44]
B
Moving on. Let's look at the verb phrase to binge watch. When you binge watch something, you watch a lot of episodes of a TV program all in one sitting or over a very short period of time.
- [11:58]
A
It's the just one more episode situation. And streaming services make it worse because they automatically play the next one that they do.
- [12:07]
B
In today's report, Samantha told us that over the New Year's holidays, she binge watched Slow Horses on Apple tv.
- [12:14]
A
Yeah, I was saying that I watched, gosh, the entire season of six episodes back to back. Instead of spacing them out. It's all of those, all of those cliffhangers they leave at the end of the episode that get you each time.
- [12:27]
B
That's what they want. Now, the word binge isn't only for watching television. You can binge shop or go on a shopping binge, a spending binge, or even an eating binge.
- [12:42]
A
So when you binge or you go on some kind of a binge, you do that action a lot over a short period of time.
- [12:49]
B
Precisely.
- [12:50]
A
Here's a work example. If a business is doing well and wants to grow, it may go on a hiring binge and hire a lot of new staff over the course of two or three months.
- [13:01]
B
Good example. What's next on our list?
- [13:04]
A
Our next item is the idiom to ruffle a few feathers.
- [13:08]
B
Hmm. That is a great idiom, but it might sound a bit strange to our listeners.
- [13:13]
A
Let's break it down. The verb ruffle means to move a smooth surface so that it is no longer smooth.
- [13:21]
B
Like when you lie down on a made bed and ruffle the covers.
- [13:25]
A
Yeah, like that. If you ever have seen a bird become annoyed or angry, you've seen how they lift their feathers, which are usually smooth.
- [13:33]
B
Sure. I think I have seen many videos of angry parrots on YouTube.
- [13:37]
A
You saw them ruffle their feathers. So when you say something or someone ruffles your feathers, you were saying that they upset or annoy you.
- [13:46]
B
It is such an interesting idiom.
- [13:49]
A
Yeah, I think so. In the report, I said the Netflix deal with Warner Bros. Had been ruffling a few feathers in the business world. I meant the acquisition was making some industry players unhappy. They were upset with the possible result of such a deal.
- [14:04]
B
You were saying that the deal annoyed or even irritated some pretty important people.
- [14:10]
A
Yeah, exactly. To ruffle someone's feathers is a very polite phrase for conflict. It makes tension sound fluffy, but usually it means people are not happy. Can you give us an example in a business context?
- [14:24]
B
I can. The students in one of my business classes recently were telling me how their company has introduced a strict return to the office policy before everyone could work two or three days from home. But as of April this year, all the staff must come to the office every single day.
- [14:45]
A
Yeah, more and more companies are going back to that, it would seem.
- [14:49]
B
Well, I tell you, that new policy has ruffled a few feathers out of my four students. Three of them were not happy with that new rule.
- [14:58]
A
It would ruffle my feathers too. Do you have our next word?
- [15:02]
B
I do. Next up is another idiom, the whole kit and caboodle.
- [15:08]
A
As unusual as it sounds, you hear this idiom quite often in everyday English.
- [15:13]
B
You do? The phrase the whole kit and caboodle means everything. The complete set of something. The entire package. Nothing left out.
- [15:24]
A
A quick note. It's whole kitten caboodle. W, H, O L E. Not hole. H O L, E. That's right. What's it called? What's it called when two words are the same?
- [15:34]
B
Those are called homonyms. Homonyms. When two words sound the same.
- [15:39]
A
Homonyms. Nice one.
- [15:40]
B
In the main episode, Samantha used this phrase in a negative statement, she said, so Netflix is not buying the whole kit and caboodle.
- [15:50]
A
I was clarifying with Skip that Netflix was not buying all of Warner Bros. Discovery, only specific assets.
- [15:57]
B
That's right. Can you give us another example? But in a positive statement?
- [16:02]
A
Well, it's a pretty informal expression. You might not want to use it with a client, but in an internal meeting, you could use this with your co workers. For example, you could say something like, good news, everyone. We got approval for the whole kit and caboodle from the customer so we can move ahead with the full rollout next month.
- [16:22]
B
Nice. So that's a positive use, meaning you got everything you wanted, not just part of it.
- [16:29]
A
The final item in our D2V list today is the verb bypass. To bypass means to go around something to avoid the usual route, process or authority and take a different path.
- [16:42]
B
It sounds very strategic, like you're skipping the normal gatekeepers to get a faster. Yes. Like we said, you hear it a lot in business.
- [16:52]
A
You do. In today's report, Skip said Paramount was built bypassing Warner Bros. Board of directors and taking their offer straight to Warner Bros. Shareholders.
- [17:03]
B
In other words, Paramount tried to go around the board and talk directly to the shareholders to make the deal happen.
- [17:09]
A
I remember a story I heard from a friend of mine. She wanted to install Zoom on her work computer but needed to get approval from the IT department. They were taking forever to give her an answer, so she bypassed them and talked directly with the cfo.
- [17:24]
B
Huh? Did she get approval?
- [17:26]
A
She got immediate approval.
- [17:27]
B
Yeah. It must not have been very happy about that.
- [17:31]
A
And that, listeners, is how you create office drama. Sometimes you bypass a process and you ruffle a few feathers. Would you like to help down to Business English Reach more people wanting to improve their business English skills? Follow down to Business English on Apple Podcasts, YouTube, Music, Spotify, or any place podcasts are found. Leave a rating and a review and tell everyone how much you enjoy the show. Thanks, Skip, for the report and for stopping the ghosting.
- [18:14]
B
I was never ghosting you.
- [18:16]
A
Well, whatever the case, I'm glad we are up and running with our new season of down to Business, Inc.
- [18:21]
B
So am I D2B members Part 2 of today's report will be coming out soon. In Part two, Samantha and I continue our conversation and talk in more detail about what exactly Netflix is buying, the government's involvement in the process, and why some experts are worried about the impact this acquisition will have on the entertainment industry.
- [18:46]
A
Make sure you're subscribed to your Members Only podcast feed so that you don't miss it. Apple Podcast Subscribers Part two of today's story will show up automatically in your Apple Podcast app as soon as it's released.
- [18:59]
B
And if you are not a DTB member or an Apple Podcast Subscriber and want to listen to Part 2, become a member or a subscriber today.
- [19:08]
A
Yes, D2B members, not only will you get access to Part 2, but as a member you get access to all our bonus Vocabulary Episodes, Members Only episodes, our interactive audio scripts, as well as access to the complete library of D2B audio script PDFs.
- [19:26]
B
To become a member, just visit D2B English.com membership and sign up today.
- [19:34]
A
That's D2 as in the number 2B English.com
- [19:42]
B
and to become an Apple Podcast subscriber, just visit the down to Business English show page in the Apple Podcast app and click subscribe. Thanks for listening everyone. See you next time.
- [19:56]
A
Take care. Down to Business English Business News to improve your Business English.