Hey everyone, it’s Nilay. Decoder is on our holiday break. We’ve got a lot of fun stuff coming up in the New Year, though, including a special Decoder Live at CES. Stay tuned for more details, including how to RSVP for free tickets.
In the meantime, we’ve got a great episode of the podcast Channels, featuring two of the best media reporters in the business. Host Peter Kafka sat down with Bloomberg’s Lucas Shaw to talk about the bidding war between Paramount SkyDance and Netflix over Warner Bros. Discovery. It’s the biggest story in entertainment right now, and this episode breaks down everything you need to know about the contentious acquisition. 
Links: 
<ul>
 <li>"Neither Side Is Used to Losing”: Lucas Shaw on the battle for Warner Bros. | <a href="https://podcasts.apple.com/bm/podcast/neither-side-is-used-to-losing-lucas-shaw-on-whats/id1080467174?i=1000741661922">Channels</a>
</li>
 <li>Five things we’re getting wrong about Warner Bros.′ Netflix deal | <a href="https://www.bloomberg.com/news/newsletters/2025-12-14/five-things-we-re-getting-wrong-about-warner-bros-netflix-deal?srnd=undefined">Bloomberg</a>
</li>
 <li>Warner Bros.’ bidders brace for a fight that will last months | <a href="https://www.bloomberg.com/news/articles/2025-12-10/warner-bros-bidders-brace-for-a-fight-that-will-last-months?srnd=undefined">Bloomberg</a>
</li>
 <li>WBD wants its shareholders to reject Paramount’s latest offer | <a href="https://www.theverge.com/entertainment/846425/warner-bros-discovery-board-rejection-paramount-skydance-hostile-bid">The Verge</a>
</li>
 <li>There are no good outcomes for the Warner Bros. sale | <a href="https://www.theverge.com/streaming/841581/warner-bros-netflix-paramount-skydance-ellison-hostile-bid">The Verge</a>
</li>
 <li>Netflix is “100% committed” to releasing WB films in theaters | <a href="https://www.theverge.com/news/846450/netflix-is-100-committed-to-releasing-wb-films-in-theaters">The Verge</a>
</li>
 <li>Netflix is buying Warner Bros. for $83 billion | <a href="https://www.theverge.com/news/838781/netflix-warner-bros-discover-bids-buyout">The Verge</a>
</li>
</ul>
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Credits:
Decoder is a production of The Verge and part of the Vox Media Podcast Network.
Decoder is produced by Kate Cox and Nick Statt and edited by Ursa Wright. Our editorial director is Kevin McShane. 
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