Warner Bros Discovery bidding war mirrors Hollywood's battle to survive

Almost every analyst and commentator is questioning not the logic but the price at which this deal is being discussed

Ever since it got into streaming in 2007, Netflix has broken every rule in the media industry playbook. It has dropped entire seasons of  original shows in one go, kept advertising out of its originals like Squid Game, Stranger Things or Bridgerton yet priced itself at less than a third of cable TV in the United States. With 302 million subscribers and $39 billion in revenues in 2024, it is the largest standalone streaming player in the world. There are, however, limits to pay-driven growth. Now, as it seeks to scale up, Netflix is becoming more like the legacy media