Radio Atlantic – “Netflix vs. Paramount”

Date: December 25, 2025
Host: Hanna Rosin, The Atlantic
Guests: David Sims (Atlantic Movie Critic), Frank Foer (Atlantic Staff Writer)

Episode Overview

This episode of Radio Atlantic tackles the high-stakes bidding war for Warner Bros. Discovery—putting the streaming titans Netflix and Paramount (backed by billionaire Larry Ellison) in direct competition. More than a business story, this battle has ripple effects across Hollywood, the future of filmmaking, and even American democracy itself, as political intervention looms. The episode first unpacks the deal’s likely impact on movie culture and theatrical cinema, then pivots to analyzing President Trump’s unusual (and potentially dangerous) involvement in the approval process, particularly focusing on the fate of CNN.

Key Discussion Points & Insights

1. Oscars Buzz and the Warner Bros. Banner Year

• [00:52–02:22]
  • Discussion kicks off with a nod to Warner Bros.' remarkable year producing both critical darlings and blockbusters, notably One Battle After Another and Sinners.
  • David Sims highlights:
    • “Movies from very established filmmakers with big stars in them…they were for grown-ups. These are R-rated movies." (D, 01:44)
    • The studio deftly balanced highbrow films (Hamnet, Sinners) and mainstream fare (e.g., Superman, Minecraft movie).
    • “[It was] the kind of year studio executives dream of.” (D, 02:18)

2. Anatomy of the Bidding War

• [02:22–03:33]
  • After a standout year, Warner Bros. Discovery put itself up for sale.
  • Paramount made multiple unsuccessful bids before Netflix swooped in and secured a deal to buy Warner Bros. Discovery, including HBO.
  • The story’s transition from a business headline to a seismic entertainment and even political concern is clear—especially when President Trump injects himself into the fray.

3. The Stakes for Hollywood and Movie Culture

• [04:45–13:14] | Guest: David Sims
  • The big question: What does ever-fewer big studios mean for the future of movies?
    • Sims describes industry anxiety over consolidation, recalling Warner’s past as a “jewel” among the “conglomeration of TV networks and other stuff.”
      • "The fear's always been it'll get sucked up, too. The Hollywood studios will continue to sort of condense into a bigger and bigger blob, which really means nothing good for art, unfortunately." (D, 04:45)
  • The pitfalls of both Paramount and Netflix buying Warner Bros.:
    • If Paramount wins: “What happened to Disney and Fox? Probably happening again…You feel the pool of big movies shrinking in Hollywood. You feel the sort of competition shrinking.” (D, 07:12)
    • If Netflix wins:
      • Netflix’s streaming-first model might threaten theatrical release viability and the diversity of movies audiences see in cinemas.
      • “There's this just huge anxiety amongst people like me and people who make movies that the movie theater industry just cannot survive losing that many movies a year.” (D, 07:57)
    • Sims notes a worrying trend: “There is a sort of style to a lot of Netflix movies…movies a little more designed to be ignored now.” (D, 08:52)
    • The survival of theaters and “mid-sized or smaller movies” is at stake, especially post-COVID and post-strike. “They’re kind of hanging on by a thread right now.” (D, 09:21)
  • Hanna Rosin presses on why theatrical release matters—Sims clarifies it’s about incentives, audience attention, and creative possibility.

4. Corporate Strategies: Paramount vs. Netflix

• [10:24–13:14]
  • Paramount wants to buy the entire Warner Bros. Discovery apparatus (“the whole kit and caboodle”) but lacks streaming and superhero IP clout.
  • Netflix only wants core assets (Warner Bros. studio, HBO), leaving less profitable cable divisions elsewhere.
  • Both routes likely mean more layoffs and further consolidation: “There's literally just less movies in theaters than there used to be.” (D, 11:46)
  • Overall mood is grim: “It's tough for me to see either of these being smooth…Like both of these will be strange corporate maneuvers.” (D, 12:00)

Memorable Quotes

• “When it’s gone, it won’t come back.”—David Sims on the possible collapse of the theatrical model (D, 09:21)
• “You feel the pool of big movies shrinking in Hollywood…It really means nothing good for art, unfortunately.” (D, 04:45, 07:12)
• “There is a sort of style to a lot of Netflix movies…movies a little more designed to be ignored now.” (D, 08:52)
• “So we've been discussing the Netflix outcome. Tell me what happened with Paramount and what's the Paramount outcome?”—Hanna Rosin reframing the stakes (C, 10:24)

Political Intrigue: Presidential Meddling in the Merger

5. Trump’s Role and the Fate of CNN

• [14:40–22:17] | Guest: Frank Foer
  • Frank Foer explains how President Trump weighed in, privately encouraging both Netflix and Paramount to “bid against the other for his approval.” (C, 14:40)
  • Trump’s focus is CNN, part of Warner Bros. Discovery, which he reportedly wants to see “run by different people or to see [it] wither and die.” (E, 15:18)
  • “I think he's waiting for the bidders to come and present him with the best prize.” (E, 15:50)
  • The norm is for independent regulatory agencies (FTC, FCC) to assess mergers—presidential intervention is unusual and risky.
    • "The whole United States government is set up to avoid this type of direct political meddling." (E, 16:01)
  • Yet both bidders now treat presidential blessing as essential currency; Paramount especially advertises its “ability to get the approval of the President.” (E, 17:14)
  • Netflix’s CEO, Ted Sarandos, reportedly visited Trump directly in the Oval Office.

6. Precedent: Trump and Media Power

• [17:59–19:24]
  • Foer draws parallels to Trump’s earlier feuds with Jeff Bezos and the Washington Post, and governmental pressure on networks like ABC to punish perceived unfriendly figures (e.g., Jimmy Kimmel).
    • “It is a mistake for any elected official…to attack media and journalists. I believe that.” (E, 18:07)
    • Pressure led to Washington Post shifting editorial stance and major network shake-ups.
  • Example: FCC Commissioner Brendan Carr’s veiled threat over Jimmy Kimmel’s anti-Trump jokes resulted in Kimmel's show being temporarily pulled by some stations.

7. Scenarios: What Happens to CNN?

• [20:22–22:17]
  • Detailed speculation on what Paramount or Netflix might do with CNN:
    • One option: “We’re going to buy CNN…just kill CNN.” (E, 20:34)
    • Or: Sell it off, radically transform it, or “Orbanification”—turn it into a pro-administration outlet.
    • This could reshape the nation’s cable news landscape: “There are only three meaningful cable networks…You take another one off the table, you’re changing a substantial percentage of cable news.” (E, 22:25)
    • Closing warning: “A democracy is only as good as the information its citizenry gets…We are undergoing this long term crisis where the quality of information…has been diminished.” (E, 22:25)

8. Public Backlash and Erosion of Media Resistance

• [23:38–24:58]
  • Foer notes that while overt moves (like the Kimmel firing) can trigger public backlash and reversals, the general trend is toward greater numbness, less resistance, and more normalized political intervention: “Here…There is a greater numbness that I think prevails. It’s less red blooded; it’s less full throated; it’s more numb.” (E, 24:58)

Notable Quotes with Timestamps

• “The fear's always been it'll get sucked up, too...which really means nothing good for art, unfortunately.” — David Sims (04:45)
• “There is a sort of style to a lot of Netflix movies...movies a little more designed to be ignored now.” — David Sims (08:52)
• “He wants to see them [CNN] out. Does that mean ... left on the side of the road to wither and die? ... He’s waiting for the bidders to come and present him with the best prize.” — Frank Foer (15:18, 15:50)
• “The whole United States government is set up to avoid this type of direct political meddling.” — Frank Foer (16:01)
• “…A democracy is basically only as good as the information that its citizenry gets...We are undergoing this long term crisis where the quality of information ... has been diminished.” — Frank Foer (22:25)
• “Here ... there is a greater numbness that ... prevails. It's less red blooded, it's less full throated, it's more numb.” — Frank Foer (24:58)

Timestamps for Important Segments

• 00:52 — Academy Awards talk and Warner Bros. year in review
• 02:22 — Warner Bros. Discovery for sale; business landscape
• 04:45 — Movie studio consolidation: impact on art and theaters
• 10:24 — Paramount’s business model and motives
• 12:00 — General malaise: “lose-lose” for Hollywood
• 14:40 — Frank Foer on Trump’s direct influence and CNN
• 16:01 — Presidential vs. independent regulator roles in mergers
• 19:49 — Precedent: Trump’s attacks on media (Washington Post, Kimmel)
• 20:34 — Possible fates for CNN under various buyers
• 22:25 — Broader implications for democracy, media, and information
• 24:58 — Discussion closes on the media’s emotional fatigue and numbness

Episode Tone

• Analytical, rueful, and at times darkly humorous—keenly aware of the gravity for both Hollywood’s artistic future and the health of American democracy.
• Speakers switch between industry-insider detail (Sims) and political-sociological analysis (Foer), always bringing it back to what’s at stake for ordinary citizens and moviegoers.

In Summary

This episode peels back the curtain on a landmark Hollywood business deal, capturing fears about industry consolidation and creativity’s fate, while exposing how powerful political forces can manipulate not just commerce but the very direction of American culture and democracy. Both the film world and the news industry, the hosts warn, stand at a precarious crossroads: “Lose-lose” scenarios for art, press freedom, and informed citizenship hang in the balance.