Peacock Premium will be bundled with and integrated into YouTube Premium beginning in 2027. The deal is intriguing to Colin and me for a variety of reasons. As we discuss, we’re particularly interested in the cannibalization risk to Peacock, along with how the economics of the deal work, including the upside potential for Peacock. 

Then we shift to explaining why believe there’s no better than a 25%-30% chance that the Paramount-Warner Bros. Discovery deal will ever close. Last week’s decision to delay the closing well into 2027, subsequent to an antitrust trial, will, in time starkly reveal the declining value of Warner Bros. Discovery, making the already stretched acquisition price even harder to justify. 

Coupled with the particular economics of the deal, we believe there are powerful incentives for Larry Ellison to pay the breakup fee and walk away. 

Listen on to learn more (32 minutes, 53 seconds)

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