Netflix CEO Ted Sarandos arrives at the White House on Feb. 26, 2026 in Washington, DC.

Andrew Leyden | Getty Images

Netflix is walking away from a deal to buy Warner Bros. Discovery’s studio and streaming assets after the WBD board on Thursday deemed a revised bid by Paramount Skydance to be a superior offer.

Earlier this week, Paramount raised its bid to buy the entirety of WBD to $31 per share, up from $30 per share, all cash. It was the latest amendment to Paramount’s multiple offers in recent months — and since moving forward with a hostile bid to buy the company — and it’s now unseated a deal between WBD and Netflix to sell the legacy media company’s studio and streaming businesses for $27.75 per share.

Last week, Netflix granted WBD a seven-day waiver to reengage with Paramount, resulting in the higher bid. Paramount’s offer is for the entirety of WBD, including its pay TV networks, such as CNN, TBS and TNT.

Netflix had four business days to make changes to its own proposal in light of Paramount’s superior bid, the WBD board said in a statement Thursday.

Instead, the decision by the streaming giant to walk away puts a pin in a drawn-out saga that saw amended offers from both bidders.

Netflix stock spiked 10% in extended trading Thursday. Shares of Warner Bros. Discovery fell 2%.

“The transaction we negotiated would have created shareholder value with a clear path to regulatory approval,” Netflix co-CEOs Ted Sarandos and Greg Peters said in a statement. “However, we’ve always been disciplined, and at the price required to match Paramount Skydance’s latest offer, the deal is no longer financially attractive, so we are declining to match the Paramount Skydance bid.”

The latest Paramount bid included a $7 billion breakup fee in the event the proposed merger doesn’t win regulatory approval. The company also agreed to pay the $2.8 billion breakup fee that WBD would owe Netflix if that deal didn’t go through.

Sarandos told CNBC’s Julia Boorstin in an interview last week that Netflix granted WBD the waiver to reopen Paramount talks in order to give shareholders clarity.

“Paramount had been making a ton of noise, flooding the zone with confusion for shareholders … including floating all these hypothetical offers and talking directly to the shareholders and bypassing the Warner Bros. Discovery board,” Sarandos said at the time. “So we’ve given the opportunity to get those shareholders exactly what they deserve, which is complete clarity and certainty.”

However, Sarandos had fallen short of commenting on whether Netflix would up its own offer to match a revised Paramount bid.

“Warner Bros. is a world-class organization, and we want to thank David Zaslav, Gunnar Wiedenfels, Bruce Campbell, Brad Singer and the WBD Board for running a fair and rigorous process,” the Netflix co-CEOs said in their statement.

“We believe we would have been strong stewards of Warner Bros.’ iconic brands, and that our deal would have strengthened the entertainment industry and preserved and created more production jobs in the U.S.,” they said. “But this transaction was always a ‘nice to have’ at the right price, not a ‘must have’ at any price.”

Read more about the Paramount-Netflix battle for WBD

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An aerial view of the Paramount logo on the water tower at Paramount Studios on Feb. 23, 2026 in Los Angeles, California.

Justin Sullivan | Getty Images

Warner Bros. Discovery on Tuesday said it had received a higher takeover offer from Paramount Skydance and will review the new bid under the terms of its existing deal with Netflix.

Last week, WBD announced it would re-engage Paramount in deal talks under a seven-day waiver from Netflix. WBD and Netflix have an agreement to sell the legacy media group’s studio and streaming businesses to the streamer. Paramount is seeking to buy the entirety of WBD.

“Following engagement with PSKY during the seven-day limited waiver period, we received a revised PSKY proposal to acquire WBD, which we are reviewing in consultation with our financial and legal advisors,” WBD said in a statement. “We will update our shareholders following the Board’s review. The Netflix merger agreement remains in effect, and the Board continues to recommend in favor of the Netflix transaction. WBD shareholders are advised not to take any action at this time with respect to the amended PSKY tender offer.”

Paramount in a statement confirmed it had submitted a revised bid and said it will continue with its previously announced tender offer while the WBD board reviews both deals.

If WBD deems the new Paramount offer superior, Netflix will have four days to improve its previously agreed-upon bid. Netflix agreed to acquire WBD’s studio and streaming assets for $27.75 per share in December, valuing the assets around $72 billion, with a total enterprise value of approximately $82.7 billion.

Paramount subsequently launched a hostile tender offer to WBD shareholders for $30 per share for all of WBD, which includes linear cable networks such as CNN, TBS, HGTV and TNT and digital assets including Bleacher Report and House of Highlights.

If WBD concludes Paramount’s new offer is superior and Netflix doesn’t alter its bid, Netflix will receive a $2.8 billion breakup fee. Paramount has agreed to fund that fee as part of a previously altered hostile bid.

A combined Paramount-WBD would bring together HBO Max with Paramount+ along with merging two of the five largest movie studios by revenue — Warner Bros. and Paramount Skydance Studios. It would also put CNN and CBS News under one ownership structure.

Both the Netflix-WBD deal and a potential Paramount-WBD merger would need U.S. and European regulatory approval for completion, and both deals have raised antitrust concerns among critics.

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Jim Farley, president and chief executive officer of Ford, speaks at the Ford Motor Co.’s Kentucky Truck Plant to launch the 2025 Ford Expedition, in Louisville, Kentucky, April 30, 2025.

Carolyn Kaster | AP

Ford Motor plans to introduce eyes-off driving technology on an upcoming $30,000 all-electric vehicle in 2028, the Detroit automaker announced Wednesday.

The target brings Ford into a race against competitors such as Tesla, General Motors and Rivian Automotive to develop and broadly launch such systems, which Wall Street views as a potential growth market to fully autonomous vehicles.

Ford’s plan is similar to those of other automakers, but the company notably plans to offer the new system on a mainstream EV first, rather than on a pricier model — defying typical technology rollouts in the automotive industry.

“It’s part of what has evolved to be a broader technology strategy of putting our best and newest technology where the volume is and where the accessibility is,” Doug Field, Ford’s chief EV, digital and design officer, told CNBC during an interview.

The first vehicle to feature the new system is expected to be built on the company’s upcoming “Universal EV platform,” which Ford has said is capable of supporting a variety of vehicles. The first is a roughly $30,000 midsize pickup truck set to hit the market in 2027.

Field, who joined Ford after stints with Apple and Tesla, said the first vehicle with the eyes-off system will come at that starting price, but did not disclose if it would be the pickup truck.

Ford has said the next-generation EV platform reduces parts by 20% versus a typical vehicle, with 25% fewer fasteners, 40% fewer workstations in the plant and 15% faster assembly time.

Field announced the eyes-off system at the CES technology show in Las Vegas alongside other plans, including a new vehicle software architecture as well as a Ford-engineered artificial intelligence assistant.

GM in October announced similar plans, including an AI assistant and an eyes-off system expected to launch in 2028 on its electric Cadillac Escalade IQ. That vehicle currently starts at more than $127,000.

Skunkworks

Ford, led by CEO Jim Farley, is under pressure to deliver on the new vehicle platform, known as UEV, and its supporting technologies, which largely fall under Field.

The company has wasted billions of dollars amid shifting EV strategies as well as quality and production issues in recent years.

Ford has significantly cut back its spending on EVs and has moved focus from large all-electric pickup trucks and SUVs to smaller, more affordable models through a special project, or “skunkworks,” team that created the UEV platform. Ford announced plans to invest about $5 billion in U.S. plants to produce the vehicles and the batteries to power them.

Field referred to the skunkworks team as a “bet” over the last couple of years that has “started to build a tremendous amount of confidence” over the “last few months.”

He said Ford now has all of the critical software and supporting hardware it needs in-house for a new generation of technologically advanced vehicles to differentiate the automaker.

“One of the things we’re seeing is just how much faster our development process works on this product and this architecture compared to what we’ve done in the past,” Field said. “So, we have a lot of confidence in our ability to get this out.”

Ford last month said it expects to record about $19.5 billion in special items through 2027 related to such restructuring efforts and its pullback in EV investments.

Eyes-off driving

Field said Ford’s planned eyes-off system, which the auto industry refers to as “Level 3 driving automation,” will utilize an array of sensors and in-house software development to lower costs compared to competitors.

Field declined to comment on the roadmap for expanding the new system to other vehicles, but said the goal is to commoditize the technology.

“The actual rollout schedule will be based on a lot of work we have to do on which customers need it in their applications, when, and which products are most ready for it now,” Field said. “It’ll take time to roll it out everywhere, but we’ll prioritize that based on where we will have the biggest impact on customers.”

Ford’s BlueCruise system displayed on the driver information cluster of an F-150 pickup truck.

Ford

SAE International, formerly known as the Society of Automotive Engineers, has characterized automated driving for vehicles from Level 0 to Level 5. The highest, Level 5, is a fully autonomous vehicle, with each stage from Level 0 adding more technologies and enabling human drivers to be more “out of the loop.”

Ford currently offers a Level 2 advanced driver assistance system, or ADAS, known as BlueCruise. While active, a vehicle can drive itself under certain circumstances without human intervention on divided highways, but drivers still need to pay attention to the roads and system in case of problems. 

AI assistant, new vehicle ‘brain’

Ford’s new AI assistant is expected to launch in early 2026 through its phone apps for Ford and Lincoln, followed by a native in-vehicle experience starting in 2027, the company said Wednesday.

Several other automakers also have announced plans for AI digital assistants, but Field said he believes Ford’s will offer unique capabilities specific to each car or truck by utilizing each vehicle’s unique identification number.

Ford said the AI assistant will be able to review a picture of a trailer to confirm whether a vehicle can properly tow it, for example, or assess how many bags of mulch the interior of a car or truck can hold.

“The AI companion is something we think we can make special for Ford, representative of what we’re trying to do on the customer experience side,” Field said.

Assisting in that better customer experience is expected to be an updated in-house software architecture that Ford’s calling an “integrated digital platform” that will debut with the UEV platform.

The company said the updated system will result in “a more unified ‘brain inside’ the vehicle — a single, powerful module that unifies infotainment, ADAS, audio, and networking.”

“For customers, that means a vehicle that feels more consistent, more reliable, and more capable year after year,” Field said in a blog post accompanying the CES announcements.

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Ted Sarandos, left, co-CEO of Netflix, and David Zaslav, CEO of Warner Bros. Discovery.

Mario Anzuoni | Mike Blake | Reuters

Hours before Warner Bros. Discovery agreed to sell its studio and streaming assets to Netflix, Ted Sarandos, the co-CEO of Netflix, called WBD CEO David Zaslav to inform him Netflix wouldn’t be bidding any higher.

WBD shareholders now have a chance to call Sarandos’ bluff.

WBD shareholders have until Jan. 21 to tender their shares to Paramount for $30 in cash, though that deadline may be artificial. Paramount can extend it all the way to WBD’s annual meeting, which hasn’t been set yet but this year took place June 2.

If Paramount acquires 51% of outstanding WBD shares, it would control the company, even though the WBD board already agreed to sell the company’s studio and streaming assets to Netflix. Both Netflix and Paramount can use the coming days and weeks to speak with WBD shareholders to gauge whether they’d like to take Paramount’s offer or stick with the board’s recommendation to sell to Netflix.

To tender or not to tender, that is the question. There are sound arguments for both sides. The decision also presents a game theory element for shareholders who may simply want a bidding war rather than caring about the right buyer.

To tender

There are two overarching reasons why a shareholder might tender their holdings to Paramount.

The first is if the investor believes Paramount’s $30-per-share, all-cash offer for the entirety of WBD is more valuable than Netflix’s $27.75-per-share bid for just the Warner Bros. film studio and HBO Max streaming business. The second is a belief that tendering shares is the best way to force a bidding war between Netflix and Paramount.

A shareholder could decide Paramount’s current offer is better than Netflix’s if they think it has a higher likelihood of regulatory approval or if they believe Discovery Global — the portfolio of linear cable networks including CNN, TNT, Discovery, HGTV and TBS that’s set to be spun out — will have minimal value as a publicly traded company.

Paramount Skydance CEO David Ellison told CNBC earlier this month he values Discovery Global at $1 per share, given his prediction on the likely multiple (two times earnings before interest, taxes, depreciation and amortization) at which it will trade based on current valuations for similar linear cable networks. If WBD doesn’t agree to sell the entire company to Paramount, it plans to split Discovery Global out as its own publicly traded entity in mid-2026.

Paramount’s argument is that $30 per share is already greater than Netflix’s $27.75-per-share offer plus $1 per share for Discovery Global.

David Ellison, CEO of Paramount Skydance, exits following an interview at the New York Stock Exchange, Dec. 8, 2025.

Brendan Mcdermid | Reuters

Paramount’s bid is also all cash, while Netflix’s bid includes 16% equity with a so-called collar, which means shareholders won’t know exactly how much Netflix stock they’ll actually receive until the deal closes.

As for regulatory approval, Paramount has played up arguments that a combined Netflix and HBO Max streaming business would be anticompetitive. Netflix has more than 300 million global paying customers. The idea of the largest streamer buying HBO Max has already raised concerns with politicians, including President Donald Trump, who said there may be a “market share” issue with a Netflix deal.

While Paramount would combine Paramount+ with HBO Max, Paramount+ has about 80 million subscribers, presenting less of a risk to competition.

The second, more nuanced argument to tender is to maximize upside even if the assets ultimately go to Netflix.

Ellison has already made it known Paramount’s $30-per-share offer isn’t best and final. Tendering could cause Netflix to come back with a higher offer, which may then prompt Paramount to raise its bid as well.

GAMCO Investors chairman and CEO Mario Gabelli told CNBC earlier this month “the notion of Company A and Company B having a bidding war — that’s what we like as part of the free market system.”

He added last week that while he was previously leaning toward tendering his shares to Paramount, “the most important part is to keep it in play.”

Not to tender

Other shareholders may believe, in contrast, that not tendering is the best way of jumpstarting a bidding war. If Paramount sees that it’s not getting traction with shareholders as the annual meeting gets closer, it may raise its bid to get more shareholders on board.

There are additional reasons not to tender. Shareholders may want the Netflix and Discovery Global equity portion of the Netflix proposal.

In a WBD filing last week, the company said a mystery “Company C” proposed to acquire Discovery Global and its 20% stake in WBD’s streaming and studios business for $25 billion in cash. That bid was rejected by the WBD board as “not actionable.”

Still, the mystery bid suggests there may be an interested buyer in all of Discovery Global if it gets spun out, which could result in far more than $1 per share, according to Rich Greenfield, an analyst at LightShed Partners. That’s a good reason not to tender, he said, because it makes the Netflix offer much more valuable than Paramount’s bid.

Ensuring WBD splits Discovery Global is also the safe play for shareholders in case regulators block a Paramount-WBD merger, Greenfield said. Since the Paramount deal is for all of WBD, including CNN, Ellison’s bid — which includes roughly $24 billion from Middle Eastern sovereign funds — may run into regulatory and political hurdles, Greenfield noted.

“You want the split to happen,” Greenfield said in an interview. “If the Paramount deal doesn’t get regulatory approval, now you’ve prevented the split from happening. You’re stuck in 2027 with declining cable networks, and you haven’t spun them off. Does the U.S. really want a company funded by more Middle Eastern money than money from the Ellisons owning CNN?”

‘Where’s Poppa?’

WBD’s board has argued part its reasoning for rejecting Paramount’s $30-per-share bid was its concern with financing, noting more funding comes from Middle Eastern sovereign wealth funds than the Ellison family, which has committed about $12 billion.

Paramount altered the terms of its deal Monday to help address funding concerns. Oracle founder Larry Ellison, the father of David and one of the world’s five wealthiest people, agreed to provide “an irrevocable personal guarantee of $40.4 billion of the equity financing for the offer and any damages claims against Paramount,” should the existing financing fall through, Paramount said in a statement.

Paramount also said Monday it will publish records confirming the Ellison family trust “owns approximately 1.16 billion shares of Oracle common stock and that all material liabilities of the Ellison family trust are publicly disclosed.” Paramount has said the family trust will backstop the financing. WBD’s board had previously argued the trust is an “opaque entity,” preferring a direct commitment from the Ellisons.

Notably, even with the Monday announcement, the Ellisons haven’t increased their personal equity investment, which still stands at $12 billion. Internally, some WBD executives have cited the 1970 Carl Reiner movie “Where’s Poppa?” when speaking about the bid, according to a person familiar with the matter. WBD has pushed for the Ellisons to commit more personal money to the deal.

Still, a WBD shareholder may not care where the funding is coming from as long as it’s there. The three SWFs involved in the deal are the Saudi Arabian Public Investment Fund, Abu Dhabi’s L’imad Holding Co. and the Qatar Investment Authority. The PIF and QIA, in particular, are known institutions that have contributed billions of dollars to other U.S.-based deals.

Correction: This story has been revised to correct that Warner Bros. Discovery shareholders have until Jan. 21 to tender their shares to Paramount for $30 in cash. A previous version misstated this deadline.

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The Paramount logo is displayed on the water tower at Paramount Studios on December 8, 2025 in Los Angeles, California.

Mario Tama | Getty Images

The Warner Bros. Discovery board on Wednesday said it unanimously recommended that WBD shareholders reject a takeover offer from Paramount Skydance and stick with a “superior” proposal from Netflix.

Last week, Paramount launched a hostile bid for WBD, taking a $30-per-share, all-cash offer directly to shareholders. Paramount Skydance CEO David Ellison has argued the deal, which equates to an enterprise value of $108.4 billion, is better than Netflix’s and that a Paramount-WBD combination would have better chances of winning regulatory approval.

“Following a careful evaluation of Paramount’s recently launched tender offer, the Board concluded that the offer’s value is inadequate, with significant risks and costs imposed on our shareholders,” Samuel Di Piazza, chair of the Warner Bros. Discovery board, said in a news release. “We are confident that our merger with Netflix represents superior, more certain value for our shareholders and we look forward to delivering on the compelling benefits of our combination.”

The formal rejection, which was expected, potentially sets the stage for a new, higher bid from Paramount. Ellison told CNBC last week he had already informed WBD CEO David Zaslav that the $30-per-share bid isn’t the company’s “best and final” offer. Paramount can announce a new offer, aimed directly at shareholders, at any time.

If Paramount does up its bid, WBD signaled in its rejection it wants more of the funding to come directly from the Ellison family.

The WBD board noted the Paramount bid includes more than $40 billion of financing that is separate from the Ellison family despite Paramount claiming the funding has a “full backstop” from the family. On Tuesday, Jared Kushner’s Affinity Partners exited its involvement in the bid, which also includes roughly $24 billion from Gulf state sovereign wealth funds.

“Despite their own ample resources, as well as multiple assurances by PSKY during our strategic review process that such a commitment was forthcoming – the Ellison family has chosen not to backstop the PSKY offer,” the board said in a letter to shareholders.

Di Piazza told CNBC’s David Faber on “Squawk Box” Wednesday morning that the board would have appreciated more involvement from Ellison’s father, billionaire Oracle co-founder Larry Ellison.

“We were not confident that one of the richest people in the world would be there at closing,” Di Piazza said. “Doing a deal is great, closing a deal is better.”

Netflix has proposed a cash-and-stock transaction for WBD’s streaming and studio assets, worth an equity value of $72 billion or enterprise value of roughly $83 billion, including debt. Under that deal, Warner Bros. Discovery’s portfolio of cable networks would be spun out into a separate entity.

“Netflix made a compelling offer — it was heavy in cash, certainty of close, a high termination fee, and they responded to the operating issues that we were concerned about,” Di Piazza told CNBC. “PSKY had every opportunity to deal with that broad range of issues, and they chose not to.”

WBD noted that Netflix’s bid had “no need for any equity financing and robust debt commitments,” given Netflix’s market valuation of more than $400 million.

“It was not a hard choice,” Di Piazza told CNBC.

He also dismissed antitrust questions surrounding both proposals: “Either of these deals can get done. Both of these deals will have to fight their way through the [Department of Justice].”

Di Piazza said the company will hold a shareholder vote in spring or early summer, though he said the date hasn’t been set.

Mario Gabelli, GAMCO Investors CEO and a WBD shareholder, told CNBC’s Becky Quick on Wednesday that while he was previously leaning toward the Paramount offer, “the most important part is to keep it in play,” hoping for more back and forth from both bidders.

Netflix on Wednesday said it “welcomes” the Warner Bros. Discovery board’s recommendation.

“This was a competitive process that delivered the best outcome for consumers, creators, stockholders and the broader entertainment industry,” Netflix co-CEO Ted Sarandos said in a statement. “Netflix and Warner Bros. complement each other, and we’re excited to combine our strengths with their theatrical film division, world-class television studio, and the iconic HBO brand, which will continue to focus on prestige television.”

Netflix co-CEO Greg Peters on Wednesday told CNBC the board’s recommendation sends “a pretty clear message.”

“Our deal structure is clean, it’s certain, we’re a scaled company … we’ve got strong investment-grade balance sheet,” Peters told “Squawk Box.”

He similarly dismissed antitrust questions, saying share of U.S. TV viewership is still competitive and that the audiences for Netflix and HBO Max streaming services are complementary.

Peters said if regulators were to take Netflix to court, it would fight for the deal: “We have a good case, and we believe that we should defend that case and make that case strongly.”

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Mike Cavanagh, President of Comcast Corporation attends the Allen & Company Sun Valley Conference on July 10, 2024 in Sun Valley, Idaho. T

Kevork Djansezian | Getty Images

Comcast’s top brass on Monday pulled the curtain back on the company’s unsuccessful bid for Warner Bros. Discovery, detailing an offer far different from its rival bidders.

Mike Cavanagh, Comcast president and soon-to-be co-CEO, walked through the specifics of the proposal —and the company’s thinking — during the UBS Global Media and Communications Conference on Monday, just days after Comcast was knocked out of the bidding war for Warner Bros. Discovery assets.

“When we looked at the circumstances of how it all came to be … we didn’t expect that we had a high likelihood of prevailing with a deal that made sense to us. We debated whether to bother or not. Do we want the disruption? Do we want the distraction?” said Cavanagh. “But it’s our job, so we thought better to take a look and do the work and see where it leads. You never know. And so that’s what we did.”

Comcast, like Netflix, bid solely on the Warner Bros. film studio and HBO Max streaming business. Paramount Skydance’s offer was for the entirety of the business, including the cable TV portfolio comprised of networks like CNN and TNT.

“We are not interested in stressing the Comcast balance sheet,” Cavanagh said Monday. “As a result, that meant our proposal was light, relative to other proposals from what I gather, on cash.”

Last week Netflix was named the winning bidder. On Monday Paramount launched a hostile offer.

Comcast offered “a significant chunk of equity in a combined entertainment company,” which would have put NBCUniversal — including its Universal theme parks and film studio as well as its broadcast network and streaming platform Peacock — together with Warner Bros.’ studio and HBO Max, Cavanagh said.

The resulting combination would have been a publicly traded, controlled subsidiary of Comcast.

That vehicle would provide shareholders with returns, but would not constitute a full spinout, which would have involved a complete separation of the companies. Comcast’s NBCUniversal is in the midst of a spinout of its portfolio of cable TV networks, which includes CNBC.

In contrast, Netflix’s proposed transaction is comprised of cash and stock, valued at $27.75 per WBD share. The equity value of the transaction is $72 billion, with a total enterprise value of about $82.7 billion.

Paramount went straight to WBD shareholders on Monday with an all-cash, $30 per share tender offer, which equates to an enterprise value of $108.4 billion.

“We respect and understand the decision of the Warner Brothers board to obviously prefer the certainty of high levels of cash or collared stock,” said Cavanagh.

Comcast leadership has long said the company’s bar for doing mergers and acquisitions is high.

“Good news is that we like what we are doing … and we roll on with a lot of focus, but I think we’re better for having taken a look,” Cavanagh said.

Peacock aspirations

Macy’s Thanksgiving Day Parade, 2023: Birds Of A Feather Stream Together – Peacock Float

NBC | NBCUniversal | Getty Images

Comcast’s NBCUniversal has been shape-shifting in recent years — from the spinout of its cable TV networks, to a heavy focus on bulking up on sports rights like the NBA, to building out its theme parks presence.

The company has also been building out Peacock. NBCUniversal launched its streaming play in 2020 and it has slowly built up since then.

As of Sept. 30 Peacock had 41 million subscribers, paling in comparison to HBO Max’s 128 million customers as of Sept. 30 and Netflix’s more than 300 million customers as of late 2024.

Cavanagh said Monday that had Comcast’s offer for Warner Bros. Discovery been successful, “it would have been an interesting play.”

“It probably would have changed our streaming aspirations to be global streaming aspirations by necessity,” he added.

Sports have been key to the playbook in fueling Peacock’s subscriber growth. NBCUniversal has nabbed exclusive NFL games to Peacock in addition to simulcasting its “Sunday Night Football” package from NBC’s broadcast network. It paid heavily to bring back the NBA to NBC, with exclusive games for Peacock, too. The Olympics have also be integral in its growth.

Live events such as the Macy’s Thanksgiving Day Parade have helped boost viewership across TV and streaming, too.

Peacock has also been increasing its subscription price, similar to its peers. In July Peacock raised prices again, just months ahead of the beginning of the NBA season.

Unlike most of its competitors, Peacock has yet to report a profit, however. For the quarter ended Sept. 30, Peacock reported losses of $217 million, an improvement from $436 million in losses during the same period last year. Cavanagh noted Monday that Peacock improved in the trailing 12 months by $900 million in earnings before interest, taxes, depreciation and amortization.

Peacock’s losses are expected to “meaningfully improve” next year compared with 2025, with “a trajectory to a positive future.”

Disclosure: CNBC parent NBCUniversal owns NBC Sports and NBC Olympics. NBC Olympics is the U.S. broadcast rights holder to all Summer and Winter Games through 2036. Versant would become the new parent company of CNBC upon Comcast’s planned spinoff of Versant.

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The Boeing Company at Paris Air Show 2025 in Le Bourget Airport.

Nicolas Economou | Nurphoto | Getty Images

Striking Boeing defense workers in Missouri voted Friday against the company’s latest offer of a modified contract deal, according to the union representing the workers.

More than 3,000 workers in the St. Louis area will remain on strike, the first walkout in almost three decades.

“Boeing’s modified offer did not include a sufficient signing bonus relative to what other Boeing workers have received, or a raise in 401(k) benefits,” a statement from the International Association of Machinists and Aerospace Workers read. “The democratic vote underscores the determination of approximately 3,200 IAM Union members to continue their stand together until their voices are heard.”

The union had said it reached a tentative five-year agreement with Boeing on Wednesday, with better wages and a signing bonus, and set a vote on the deal for Friday.

The deal that workers rejected included 45% average wage growth, among other things. The local chapter of the union, IAM 837, said it would bring the average wage from $75,000 to $109,000.

“Our members in St. Louis have once again shown that they will not settle for Boeing’s half-measures,” IAM International President Brian Bryant said in a statement. “Boeing must start listening to its employees and come back to the table with a meaningful offer that respects the sacrifices and skill of these workers.”

Boeing has said it is hiring more workers to replace those who are on strike to meet rising demand.

Boeing Air Dominance Vice President Dan Gillian said in a statement that no further talks are scheduled between Boeing and the striking workers, and that the company is “disappointed.”

“We’ve made clear the overall economic framework of our offer will not change, but we have consistently adjusted the offer based on employee and union feedback to better address their concerns,” Gillian said. “We will continue to execute our contingency plan, including hiring permanent replacement workers, as we maintain support for our customers.”

The striking workers mostly assemble and maintain F-15 fighter jets and missile systems, according to the union. The employees went on strike in early August and turned down a previous offer, which included 20% general wage increases and a $5,000 signing bonus, among other improvements.

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