WAVE allots 3.8 billion new shares, gives free WAVE-W5 warrants, subscription open October 14-20
Wave Exponential Public Company Limited, or WAVE, has announced the allotment of 3,820,979,033 new ordinary shares to existing shareholders on a pro-rata basis, at a ratio of 3 existing ordinary shares to 1 new ordinary share, at an offering price of 0.04 baht per share, for a total value of not more than 152,839,161.32 baht. The record date for shareholders entitled to subscribe to the new shares is set for September 24, 2026, with the subscription and payment period running from October 14 to 20, 2026. Shareholders may subscribe for more than their entitlement if shares remain after the full allotment to existing shareholders who subscribed to their full entitlement. In addition, WAVE is allotting a further 1,910,489,517 new ordinary shares to accommodate the exercise of the fifth series of warrants to purchase ordinary shares, or WAVE-W5, which are given free of charge to existing shareholders who subscribe and pay for the new shares on a pro-rata basis, at a ratio of 2 new shares to 1 warrant unit. Each WAVE-W5 unit entitles the holder to purchase 1 ordinary share at an exercise price of 0.05 baht per share, with an exercise period of 3 years from the warrant issuance date. Meanwhile, WAVE's latest shareholder structure shows that several well-known major investors rank among the top 10 shareholders, and some hold the same stock in their investment portfolios, making it worth watching whether these major investor groups will exercise their rights to subscribe to WAVE's new shares this time. The top 10 shareholders are: Brooker Group Public Company Limited with 1,020,308,442 shares, or 8.90%; THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED, SINGAPORE BRANCH with 818,532,855 shares, or 7.14%; Mrs. Jarunee Chinwongworakul with 684,638,775 shares, or 5.97%; Mr. Sura Kanitthaweekul with 588,223,400 shares, or 5.13%; QUAM SECURITIES LIMITED A/C CLIENT with 520,845,267 shares, or 4.54%; Thanwarin Company Limited with 435,640,400 shares, or 3.80%; Miss Thanika Tangpoonphonwiwat with 373,454,055 shares, or 3.26%; Mr. Thananon Triamchanchai with 370,000,000 shares, or 3.23%; Mr. Noppadol Khemayothin with 296,000,000 shares, or 2.58%; and Mr. Anek Wongphaithoonpiya with 280,613,400 shares, or 2.45%.
WAVE.BK · Capital · Negative WAVE is issuing 3.82 billion new shares at 0.04 baht plus free WAVE-W5 warrants, a heavily dilutive capital raise for existing shareholders.
BTC.BK · Capital · Neutral Brooker Group is listed as WAVE's top shareholder with 8.90%; article only notes it is worth watching whether major investors subscribe, no concrete action by Brooker.
Netflix to Cut About 5% of Global Workforce, Roughly 800 Jobs
Netflix plans to cut about 5% of its roughly 16,000-strong global workforce, or around 800 jobs, marking its largest staff reduction since 2022 as it responds to a maturing streaming market and intense competition. The move highlights Netflix's focus on protecting its 31.5% operating margin target while it broadens into advertising, live programming and gaming to support future growth. The recent expansion of Netflix's NFL partnership through EverPass Media reinforces the push into live events, which analysts see as an important lever for engagement and advertising growth. Netflix's narrative projects $65.5 billion revenue and $19.7 billion earnings by 2029, requiring 10.6% yearly revenue growth and a $6.1 billion earnings increase from $13.6 billion today. Investors are also watching the risk that content costs keep climbing faster than viewing, especially with about 20% of viewing tied to a small pool of hits.
NFLX · Capital · Negative Netflix is cutting about 5% of its global workforce (~800 jobs) to protect its 31.5% operating margin target amid a maturing streaming market.
Netflix Plans Layoffs Affecting About 5% of Workforce
Netflix is planning a substantial round of layoffs that would affect about 5% of its workforce, or roughly 800 workers, according to people familiar with the cuts. The job losses will hit the creative team, including those working on features, one source said, and the cuts are believed to be the biggest at the Los Gatos company since 2022. Netflix declined to comment, and the news was first reported by Puck. The streaming giant has faced investor scrutiny over subscriber engagement, with view hours rising only about 2% in the first half of 2026 compared with a year earlier even as content spending climbed. Netflix stock has declined 43% from a year ago and closed Friday at $70.30, down about 2%.
NFLX · Capital · Negative Netflix plans layoffs of about 5% of workforce (~800 workers), its biggest cuts since 2022, amid rising content spending and weak engagement.
Disney Unveils Infinity Vision Large-Format Cinema Standard to Rival IMAX
Walt Disney has introduced a new large-format cinema standard called Infinity Vision as an alternative to IMAX screens. The entertainment group is pitching Infinity Vision to external studios, including Paramount, Universal, Lionsgate and Sony, for future blockbuster releases. Disney plans to position Infinity Vision as a premium big-screen option for theaters that currently program IMAX and similar formats. The move points to a broader rethink of how blockbuster films reach audiences and fits into Disney's strategy of stretching franchises such as Toy Story, which has generated over US$4b in box office, more than 2 billion streaming hours and over US$1b in annual global retail sales, across Experiences, streaming and now branded premium formats in theaters. A proprietary format competing with IMAX and similar offerings from rivals like Warner Bros. Discovery adds execution complexity and capital needs.
DIS · Competition · Positive Disney launches Infinity Vision large-format standard to rival IMAX and pitches it to external studios, expanding its premium-format strategy.
IMAX · Competition · Negative Disney's Infinity Vision is positioned as an alternative to IMAX screens, directly threatening IMAX's large-format dominance.
WBD · Competition · Negative Mentioned as a rival with similar large-format offerings that Disney's Infinity Vision competes against.
Aiming Soars in Afternoon Session on Announcement of Cover Collaboration Title 'Hololive Mahjong -Holo-Jan-'
Aiming surged in the afternoon session. After the morning close, the company announced a new collaboration title with Cover, 'Hololive Mahjong -Holo-Jan-', and began accepting pre-registrations, which appears to have drawn strong market interest.
Stagwell Launches Stagwell Media Agency Built on Machine OS Platform
Stagwell Inc. has launched Stagwell Media, a new global media agency operating in more than 50 markets and powered by its Machine OS agentic technology platform, serving clients including Lenovo, DP World, Mastercard, and P&G. The launch institutionalizes Stagwell's AI- and software-driven approach to media and reinforces its push toward higher-margin, technology-enabled services within its broader marketing ecosystem. The move aligns with prior AI and platform initiatives, including the Machine and Marketing Cloud efforts, an SVP of Enterprise AI Solutions appointment, and Stagwell Search+. Stagwell's narrative projects $3.6 billion in revenue and $337.4 million in earnings by 2029, requiring 5.6% yearly revenue growth and about a $321 million earnings increase from $16.2 million today, with a $9.71 fair value implying 12% upside. A more pessimistic analyst view assumes revenue of about US$3.6 billion and earnings near US$233 million by 2029, warning that increasing housing and privacy rules could blunt the impact of launches like Stagwell Media and Machine OS.
STGW · Technology · Positive Stagwell launched Stagwell Media built on its Machine OS agentic AI platform, advancing its technology-enabled services push.
Spotify launches technology site to sell enterprise developer tools
Spotify is formalizing its enterprise and developer tools business with the launch of technology.spotify.com, a new site that makes its internal technology available to outside companies. The effort is not entirely new: Spotify has offered products to the wider tech community since 2020, when it open sourced Backstage, a platform and framework for building customizable developer portals. It has also sold its enterprise-focused software experimentation platform Confidence since 2023 and its enterprise software development platform Portal since 2024, and earlier this year began selling Xirp, its developer tool for managing AI coding agents. The new site will house both open source and paid solutions built to serve Spotify's own audience of 777 million monthly active users, and Spotify's SVP of Technology & Platform, Tyson Singer, said the company is often asked why it is in the business of selling software. Spotify has not disclosed how much revenue its enterprise sales generate, and the technology website does not include pricing; companies instead fill out a form to contact sales.
SPOT · Demand · Positive Spotify launches technology.spotify.com to sell its enterprise developer tools (Backstage, Confidence, Portal, Xirp) to outside companies, expanding its product offering to new business customers.
Skydance Debuts on NYSE Under Ticker SKYD After Paramount-Warner Bros. Discovery Merger
Skydance began trading on the New York Stock Exchange this past Tuesday under the ticker symbol SKYD, following the combination of Paramount and Warner Bros. Discovery. Chairman and CEO David Ellison called the merger a "historic" moment for the entire industry, saying the company's mission is to build the next-generation global media and entertainment company powered by creativity and technology. The debut was marked by Skydance Corporation ringing the NYSE Opening Bell, while Ternium celebrated the 20th anniversary of its NYSE listing with the Closing Bell. Separately, New York Comic Con 2026, the 20th anniversary of the event, kicks off today at the Javits Center in New York City, organized by RX, the exhibitions division of RELX, with RX CEO Hugh Jones joining NYSE Live. In early trading, both the 10-year and 30-year U.S. Treasury notes hit their highest levels since 2002, and ICE Brent Crude was trading at about $105 at 8 a.m. ET after President Trump said he doesn't want to make a deal with Iran, while Wednesday's Fed Minutes revealed most policymakers expect one more rate hike this year.
PSKY · Capital · Positive Paramount combined with Warner Bros. Discovery and the merged entity began trading on NYSE under SKYD, a major corporate combination.
SKYD · Capital · Positive Skydance debuted on the NYSE under ticker SKYD after completing its merger with Paramount and Warner Bros. Discovery.
WBD · Capital · Positive Warner Bros. Discovery was combined into the new Skydance entity following the merger.
Spotify renews Joe Rogan deal at estimated $250 million
Spotify has secured a new multiyear licensing and ad-sales deal with Joe Rogan worth an estimated $250 million, according to a report by The Wall Street Journal. The agreement cements the streaming giant's grip on the world's most-listened-to podcast. The Wall Street Journal notes that the new deal carries terms similar to Rogan's previous contract, allowing for broad distribution across platforms with an estimated earnout of $250 million, while Rogan and his team retain full editorial control. Spotify has not officially confirmed the dollar figure or disclosed the precise contract length beyond "multiyear." The Joe Rogan Experience reached approximately 28.4 million Americans in Q2 2026, up sharply from 6.6 million at the start of 2020, according to Edison Research, and has ranked No. 1 on Edison's most-listened-to podcast list in the U.S. since tracking began in 2019. Spotify first signed Rogan in 2020 in a $100 million-plus exclusivity deal and renewed the agreement in early 2024, opening distribution to YouTube and other platforms.
SPOT · Demand · Positive Spotify secures a new multiyear licensing and ad-sales deal for the No. 1 podcast, cementing its grip on top podcast content and ad inventory.
Spotify Renews Multiyear Joe Rogan Podcast Deal on Similar Terms
Spotify Technology has renewed its multiyear partnership with star podcaster Joe Rogan, securing licensing rights and advertising sales for "The Joe Rogan Experience," the Wall Street Journal reported. The new agreement is on similar terms to Rogan's previous deal with Spotify, which allowed the show to be distributed broadly and included an estimated earnout of $250 million, according to people familiar with the matter. "The Joe Rogan Experience" has ranked as the most-listened-to podcast in the U.S. on Edison Research's list since tracking began in 2019, and the show has more than 18 million followers on Spotify and over 21 million on YouTube. Spotify first signed Rogan in 2020 in a deal valued at more than $100 million, bringing the podcast exclusively to its platform, and renewed the partnership in early 2024 while allowing the show to be distributed across other podcast platforms, including YouTube. Rogan and his small team retain editorial control over the show, while Spotify handles the licensing and advertising relationship, and Jordan Newman, Spotify's head of content partnerships, said Rogan had built an enduring show that continues to resonate with a large global audience.
SPOT · Demand · Positive Spotify renewed its multiyear licensing and ad-sales deal for the most-listened-to US podcast, retaining a top content asset that drives listener engagement.
Live Nation prices $730M and €600M senior notes due 2032
Live Nation Entertainment announced the pricing of a dual-currency debt offering comprising $730 million in 7.125% senior notes due 2032 and €600 million in 6.125% senior notes due 2032. Both tranches were priced at 100% of face value, and the offering is expected to close on October 15, 2026. The notes will be fully guaranteed by Live Nation and its existing and future domestic restricted subsidiaries that guarantee its senior secured credit facilities. Net proceeds will be used to redeem in full all of the company's outstanding 6.500% senior secured notes due 2027, cover related fees and expenses, and support general corporate purposes, which may include the repayment or repurchase of additional debt.
LYV · Capital · Neutral Live Nation priced $730M and €600M senior notes to redeem its 2027 secured notes and for general corporate purposes, a refinancing event.
Bushiroad Announces Palworld TCG First and Second Sets Expected to Surpass 11 Million Packs in Cumulative Global Shipments
Bushiroad shares rebounded. The company announced on October 7 that the cumulative global shipment forecast for the trading card game "Palworld Official Card Game," combining the first booster pack "Dawn of Palpagos" and the second booster pack "Awakened Legend" scheduled for release on October 30, is expected to surpass 11 million packs by early November. The announcement appears to have been received positively by the market.
7803.JP · Demand · Positive Bushiroad forecast cumulative global shipments of its Palworld TCG first and second booster packs to surpass 11 million packs, signaling strong end-customer demand for its product.
Nihon Falcom Raises Full-Year Forecast and Year-End Dividend, Eyes Record Results
Nihon Falcom extended its gains for a fourth straight session, at one point being bought up into the 2,700 yen range. Market attention has been drawn to the company's announcement on October 7, the previous day, that it is revising upward its full-year earnings forecast for the fiscal year ending September 2026 and raising its year-end dividend forecast from 10 yen per share to 60 yen per share. The year-end dividend will consist of an ordinary dividend of 30 yen and a commemorative dividend of 30 yen. The earnings forecast is expected to set record highs for sales and every profit line, and the move appears to be winning strong praise.
3723.JP · Capital · Positive Nihon Falcom raised its full-year earnings forecast to record highs and lifted its year-end dividend from 10 to 60 yen per share.
Live Nation Prices $730 Million and €600 Million Senior Notes Due 2032
Live Nation Entertainment has priced a private offering of $730,000,000 in aggregate principal amount of 7.125% senior notes due 2032 and €600,000,000 in aggregate principal amount of 6.125% senior notes due 2032. Both tranches will be issued at a price equal to 100.000% of their face value. The offering is expected to close on October 15, 2026, subject to customary closing conditions, and the obligations will be guaranteed by the company and its existing and future domestic restricted subsidiaries that guarantee its senior secured credit facilities. Live Nation intends to use the net proceeds to fund the redemption in full of all of its outstanding 6.500% senior secured notes due 2027, to pay fees and expenses related to the offering, and for general corporate purposes, which may include the repayment or repurchase of certain of its indebtedness. The notes will be offered through a private placement only to qualified institutional buyers under Rule 144A and, outside the United States, to persons other than U.S. persons in compliance with Regulation S.
LYV · Capital · Neutral Live Nation priced $730M and €600M senior notes due 2032 to fund redemption of its 2027 notes and for general corporate purposes, a refinancing event.
Enlight Media Co-Invested Film 'Eight Immortals!' Grosses Over 2 Billion Yuan
Enlight Media announced that the film 'Eight Immortals!', co-invested by a subsidiary of the company, has been in public release since July 18, 2026. As of 24:00 on October 7, after 82 days in theaters, cumulative box office revenue reached approximately 2.04 billion yuan, exceeding 50% of the company's audited revenue for the most recent fiscal year. The company estimates revenue from the film to be in the range of approximately 12.5 million yuan to 16 million yuan. The company cautions that final settlement figures may contain discrepancies, and investors should be aware of the risks.
300251.CS · Demand · Positive Co-invested film 'Eight Immortals!' grossed over 2 billion yuan, with estimated revenue of 12.5-16 million yuan for the company.
Paramount Pays Netflix $2.8 Billion Breakup Fee After Winning Warner Bros. Discovery
Paramount Skydance paid Netflix $2.8 billion after Netflix walked away from its roughly $82.7-billion deal to buy Warner Bros. Discovery's studio and streaming business, a breakup fee written into Netflix's own contract and covered by Paramount as part of its winning bid. Netflix had agreed on Dec. 5, 2025 to pay $27.75 a share for Warner's movie and TV studios and HBO Max, and under that contract Warner owed Netflix $2.8 billion if it accepted a better offer, while Netflix would have owed Warner $5.8 billion if regulators blocked the sale. Paramount, which had made six earlier offers, took a $30-a-share all-cash bid directly to Warner shareholders in December and ultimately raised its price to $31 a share; Warner's board ruled on Feb. 26 that Paramount's bid was the better deal, and Netflix declined its right to counter. Paramount closed its $110-billion takeover on Oct. 6 and renamed itself Skydance Corporation, giving it HBO Max, Paramount+, CBS, CNN and the Warner Bros. film studio, after settling on Sept. 21 an antitrust lawsuit filed in July by 12 states seeking to stop the merger. Netflix stock closed up 13.75% at $96.24 on Feb. 27, and Chief Financial Officer Spence Neumann said the decision to walk away came down to price, adding that Netflix still plans a content budget of about $20 billion in cash this year, up roughly 10% from 2025.
NFLX · Capital · Positive Netflix walked away from the $82.7B Warner deal, received a $2.8B breakup fee, and its stock jumped 13.75% as it keeps a ~$20B content budget.
SKYD · Capital · Positive Paramount/Skydance won the bidding for Warner Bros. Discovery at $31 a share, closed its $110B takeover, and gained HBO Max, Paramount+, CBS, CNN and the Warner film studio.
ClearBridge Adds Take-Two, Citing GTA VI Multiyear Growth
ClearBridge Investments' Large Cap Growth Strategy added Take-Two Interactive Software as a new position in its third-quarter 2026 investor letter, citing a multiyear opportunity tied to the forthcoming Grand Theft Auto VI launch. The firm said the game's release should support unit sales, recurring revenue and earnings revisions for the video game developer. Take-Two closed at $202.53 on October 06, 2026, with a $37.87 billion market capitalization, a 20.90% year-to-date pullback and a 52-week range of $187.63 to $265.94. The strategy outperformed its Russell 1000 Growth Index benchmark in the quarter, which gained 0.9%, while the Russell 1000 Value Index rose 2.6%. Hedge fund portfolios holding Take-Two numbered 84 at the end of the second quarter, up from 77 in the previous quarter.
Roblox shares fall as Google and Unity unveil AI game creation platform
Roblox Corp shares fell as much as 8% in pre-market trading Wednesday and were recently down about 5% after Google and Unity Software Inc announced a partnership to build an AI-powered game creation platform. The companies said in a press release they will develop an integrated gaming platform featuring AI-powered tools that allow users to create games without coding experience, representing potential competition for Roblox in the user-generated gaming market. Google launched an experimental platform called Playground, now available to users aged 18 and older, which lets users generate and customize playable games using natural language prompts. The companies plan to introduce Unity Spark later this year, a product built on Playground that will offer advanced capabilities including professional-level mechanics, high-fidelity 3D features, and access to the Unity runtime, and the platform will integrate with Google Play Games, providing leaderboards, multiplayer matchmaking, and community features. On September 28, Jefferies downgraded Roblox to Underperform from Hold and maintained its $38 price target, implying 18% downside, with analyst James Heaney saying the stock's 30% rally since second-quarter results reflects overly optimistic expectations for bookings over the next 12 months.
RBLX · Competition · Negative Google and Unity's AI-powered game creation platform represents potential competition for Roblox in user-generated gaming.
RBLX · Capital · Negative Jefferies downgraded Roblox to Underperform, citing overly optimistic bookings expectations after its 30% rally.
U · Technology · Positive Unity partnered with Google to build an AI-powered game creation platform, including the upcoming Unity Spark product.
GOOG · Technology · Positive Google launched Playground and partnered with Unity on an AI game creation platform, expanding its gaming/AI product offerings.
JEF · Capital · Negative Jefferies downgraded Roblox to Underperform with a $38 price target, an analyst valuation call.
JPX to add 35 companies including Seria to TOPIX, 683 firms marked for removal
Japan Exchange Group announced on the 7th that it will add 35 companies, including Seria, to the TOPIX index as part of the periodic reshuffle of constituents of the Tokyo Stock Exchange's stock price index, which begins at the end of this month. The new additions, besides Seria, include Japan McDonald's Holdings, Toei Animation, and GO, comprising 23 companies from the Standard Market and 12 from the Growth Market; until now, only companies from the former TSE First Section were eligible. The number of constituent stocks is expected to rise from the current 1,634 to 1,669. Meanwhile, 683 companies that do not meet criteria such as market capitalization will be designated as transition-measure stocks, with their index weightings reduced in stages. If no improvement is seen in a reassessment to be conducted in October next year, they will be removed from TOPIX at the end of July 2028.
Paramount Skydance closes deal to acquire Warner Bros. Discovery
Paramount Skydance announced on Tuesday, October 6, that it had completed its acquisition of Warner Bros. Discovery, creating a giant company under the name Skydance that brings together two century-old Hollywood studios, two global streaming services, and two major American news organizations under one roof. Meanwhile, Anthropic announced it is expanding a special program that allows vetted cybersecurity experts to access and test the company's most powerful artificial intelligence models under relaxed safeguards on the models themselves, after its Project Glasswing collaboration helped detect more than 100,000 software vulnerabilities worldwide this year. Separately, Nippon Group Holdings, a major Japanese books and publishing group, acknowledged that one of its affiliates sold a large number of books to Anthropic, the American artificial intelligence developer, amid concerns in Japan's publishing industry that the books may have had their spines cut off so they could be scanned into digital data for training AI models and may be destroyed afterward. In Japan as well, the Japan Fair Trade Commission raided four major beer makers that together hold more than 90% of the market today, October 7, on suspicion of colluding to set wholesale beer prices, which would violate antitrust law.
PSKY · Capital · Positive Paramount Skydance completed its acquisition of Warner Bros. Discovery, creating a combined studio/streaming/news giant.
WBD · Capital · Positive Warner Bros. Discovery was acquired by Paramount Skydance, closing the deal to combine the two studios.
Nippan Group Holdings · Regulation · Negative Its affiliate sold large numbers of books to Anthropic amid industry concerns the books were cut up and destroyed for AI training.
Spotify Expands Audiobooks to Over 180 Markets, Reaching 750 Million Users
Spotify announced Wednesday that it is expanding audiobook access to over 180 markets worldwide, covering regions across Europe, the Americas, the Caribbean, the Middle East, Africa, and Asia. The rollout begins today and will continue over the coming months, bringing audiobooks to more than 750 million users and sharpening Spotify's competition with music streaming providers and audiobook apps like Audible. Previously, audiobooks were available primarily in English-speaking markets such as the U.S., U.K., Ireland, Australia, and New Zealand, as well as in Germany. Spotify said it has more than 350,000 titles for its new markets and has expanded its collection to over 120 languages, with users in Spain gaining access to over 45,000 titles in Spanish. The company is working with more than 300 publishers worldwide, including Planeta and Mondadori, to increase titles across markets. Premium subscribers can listen to 12 hours of audiobooks in eligible countries such as Brazil, Mexico, Colombia, Poland, Chile, Norway, and Peru, while a standalone Audiobook+ subscription offers a 15-hour allowance, and individual titles can be purchased directly. Spotify is also adding an Audiobook+ add-on for student plans in select regions in November; since its launch last year, Audiobook+ has gained over 1 million subscribers and generated over 100 million in annual recurring revenue. The company noted that monthly listeners of audiobooks grew by 40% over the past year and listening hours rose by 30%.
Paramount Skydance closes $110 billion takeover of Warner Bros. Discovery
Paramount Skydance completed its acquisition of Warner Bros. Discovery for $110 billion on Tuesday, October 6, preparing to launch a Hollywood entertainment giant under the Skydance name spanning film, studios, streaming and television. The deal combines legendary film studios behind franchises such as Mission: Impossible, Harry Potter and DC Studios with major television networks and streaming services including CBS, CNN, Paramount+ and HBO Max. David Ellison, CEO of Paramount Skydance, said the merger paves the way for building a media and entertainment company of the future driven by creativity and technology. After the merger, Skydance plans to combine HBO Max and Paramount+ into a single platform, and has pledged to produce at least 30 films a year in the first two years, rising to 32 films a year over the following three years. The new company is expected to carry total debt of about $80 billion, with Ellison pledging to spend at least $30 billion a year on content. Analysts at MoffettNathanson forecast earnings before interest, taxes, depreciation and amortization of $16 billion in 2028, rising to $19 billion in 2030. Revenue is expected to be about $67 billion in 2028 and rise to roughly $70 billion in 2030.
Skydance closes nearly $111 billion deal to buy Warner Bros. Discovery
Paramount Skydance completed its acquisition of Warner Bros. Discovery on Tuesday, October 6, creating a giant company under the name Skydance that brings together two century-old Hollywood studios, two global streaming services, and two major American news organizations under one roof. The acquisition, consisting of cash payments and assumed debt, is valued at nearly $111 billion, making it one of the highest-value media industry mergers in history. The combined company will have annual revenue of nearly $70 billion and will list on the New York Stock Exchange under the ticker SKYD. The new company's creation stems from two back-to-back mergers, beginning with David Ellison's Skydance Media merging with Paramount Global in August 2025, before Paramount Skydance acquired Warner Bros. Discovery. David Ellison becomes chairman and chief executive officer of the new company, while Egon Krys, a former senior executive at Mattel, has been appointed co-CEO. The company has pledged to release at least 30 theatrical films a year and produce more than 180 television shows and series a year, and aims to cut costs by at least $6 billion a year within three years. However, several labor unions have warned that the merger could reduce diversity in media production and weaken workers' bargaining power.
WBD · Capital · Positive Warner Bros. Discovery is acquired by Paramount Skydance in a nearly $111 billion cash-and-debt deal, a major M&A event for the company.
Paramount Skydance closes deal to buy Warner Bros. Discovery for nearly 111 billion dollars
Paramount Skydance announced yesterday that it has completed its acquisition of Warner Bros. Discovery, creating a large company under the name Skydance that brings together two long-established Hollywood studios, two global streaming services, and two major US news organizations under one roof. The acquisition, which consists of both cash and assumed debt, is valued at nearly 111 billion US dollars, making it one of the highest-value mergers in media industry history. Skydance said the combined company will generate nearly 70 billion US dollars in annual revenue and will list on the New York Stock Exchange under the ticker SKYD.
PSKY · Capital · Positive Paramount Skydance completed its ~$111B acquisition of Warner Bros. Discovery, a major M&A event creating a combined company listing as SKYD.
WBD · Capital · Positive Warner Bros. Discovery is being acquired by Paramount Skydance for nearly $111B in cash and assumed debt.
Paramount Skydance closes $110 billion deal to acquire Warner Bros. Discovery
Paramount Skydance announced that it has completed its acquisition of Warner Bros. Discovery under a deal valued at $110 billion, a major deal in the Hollywood entertainment industry. The new company formed after the merger will be called Skydance. The merger brings together studios behind famous franchises such as Mission: Impossible, Harry Potter and DC Studios with major television networks and streaming platforms such as CBS, CNN, Paramount+ and HBO Max, creating a large entertainment company spanning film, television, streaming and news.
Tony Blair Named Advisor to Skydance After $110bn Paramount-Warner Bros Megadeal
Sir Tony Blair has been appointed as an advisor to the board of Skydance, the newly formed $110bn (£82bn) Hollywood giant controlled by Larry Ellison's family, following the completion of its blockbuster merger between Paramount and Warner Bros Discovery. The rebranded company will control an entertainment empire spanning streaming app HBO, the Harry Potter franchise, and US news channels including CNN and CBS, and will be led by David Ellison, Skydance's chief executive and chairman. David Ellison said Blair's global perspective and insight would be invaluable as the company turns ambition into results. Blair was named alongside Silicon Valley figures appointed to the new board, including Laurene Powell Jobs, the wife of the late Steve Jobs, and Bobby Kotick, the former Activision boss. The deal was confirmed on Tuesday after a California judge last month approved a settlement between Paramount and a dozen US states that had threatened to block it on competition grounds, and it leaves the new media giant nursing an $80bn (£60bn) debt pile while significant layoffs and cuts are expected.
Paramount Completes $110 Billion Warner Acquisition, Creating New Company Skydance
U.S. media giant Paramount Skydance announced on the 6th that its massive $110 billion acquisition of Warner Bros. Discovery has closed. The deal creates a new company, Skydance, with CEO David Ellison at the helm of one of the world's largest entertainment companies. Shares of the combined company moved from Nasdaq to the New York Stock Exchange on the 6th and began trading under the ticker symbol SKYD. The studio behind Mission: Impossible and Harry Potter will be combined with major television and streaming services including CBS News, CNN News, Paramount+, and HBO Max. However, the new company is expected to carry roughly $80 billion in debt, and Ellison will be tasked with expanding the streaming business, maintaining cash flow from the cable network operations, and improving the performance of theatrically released films. Analysts at research firm MoffettNathanson expect the company's earnings before interest, taxes, depreciation, and amortization to rise to $16 billion in 2028 and $19 billion in 2030, with revenue reaching about $67 billion in 2028 and about $70 billion in 2030. Skydance has committed to producing at least 30 films a year in the first two years after the acquisition closes, and 32 films a year over the following three years.
PSKY · Capital · Positive Paramount Skydance completed its $110 billion acquisition of Warner Bros. Discovery, creating a new combined entertainment company trading as SKYD.
WBD · Capital · Positive Warner Bros. Discovery was acquired by Paramount Skydance in a $110 billion deal that has now closed.
Netflix Live Sports Costs Raise Margin Questions as Content Spend Jumps 32%
Netflix's expanding live sports slate is becoming a material cost line, with live programming expected to absorb just over 5% of 2026 content spend while generating only about 1% of view hours. The streamer's additions to content assets jumped 32% year over year to $9.8 billion in the first half of 2026, outpacing the 11% rise in content amortization, while capital expenditure climbed 46% to $415 million. Second-quarter operating margin contracted 70 basis points to 33.4%, and free cash flow fell to $1.5 billion from $2.3 billion. Netflix narrowed 2026 revenues to $51.0-$51.4 billion and maintained a 31.5% operating margin target versus 29.5% in 2025, but the full-year target implies a fourth-quarter margin near 27% in a quarter loaded with NFL holiday games and the Tyson Fury-Anthony Joshua bout on Dec. 11. Disney's Sports segment operating income fell 17% to $858 million in third-quarter fiscal 2026 as programming and production costs rose 10% to $3.05 billion, while Amazon's advertising revenues grew 26% year over year to $19.8 billion in the second quarter of 2026. Netflix shares have plunged 28% year to date, and the Zacks Consensus Estimate for 2026 earnings is pegged at $3.59 per share, up 41.9% from the previous year.
Paramount Skydance and Warner Bros. Discovery close $110 billion merger
The $110 billion merger of Paramount Skydance and Warner Bros. Discovery is scheduled to close on Tuesday after Supreme Court Justice Elena Kagan denied a last-minute effort to halt the deal. The new company, known as Skydance, brings HBO Max and Paramount+ under one umbrella, roughly seven months after Paramount won a long bidding war for Warner Bros. over Netflix. Last February, Warner Bros.' board of directors deemed Paramount Skydance's $31-per-share proposal for the entire company superior to Netflix's offer. David Ellison will serve as co-CEO of Skydance alongside former Mattel CEO Ynon Kreiz, while Warner Bros. Discovery CEO David Zaslav will receive roughly $886.8 million. Weeks ago, Paramount reached a settlement with a dozen states, including California, which had sought to block the company's $111 billion acquisition of Warner Bros. on antitrust grounds; under the agreement, the combined company would pay $30 million for each movie short of releasing at least 30 films in theaters annually and could be forced to sell its 49% stake in Miramax if it misses the target.
PSKY · Capital · Positive Paramount Skydance closes its $110B acquisition of Warner Bros. Discovery after the Supreme Court denied a last-minute halt.
WBD · Capital · Positive Warner Bros. Discovery is acquired by Paramount Skydance in the $110B merger, with CEO Zaslav receiving ~$886.8M.
Miramax · Regulation · Neutral Settlement terms could force the combined company to sell its 49% Miramax stake if it misses the 30-films-a-year theatrical target.
Live Nation Launches $840 Million and €500 Million Senior Notes Offering
Live Nation Entertainment announced it intends to offer $840.0 million in aggregate principal amount of senior notes due 2032 and €500.0 million in aggregate principal amount of senior notes due 2032 through a private placement. The company plans to use the net proceeds to fund the redemption in full of all of its outstanding 6.500% senior secured notes due 2027, to pay fees and expenses related to the offering, and for general corporate purposes, which may include the repayment or repurchase of certain of its indebtedness. The Notes will be guaranteed by the company and its existing and future domestic restricted subsidiaries that guarantee its senior secured credit facilities. Completion of the offering is subject to pricing and market conditions, and the Notes will be offered only to qualified institutional buyers under Rule 144A and, outside the United States, to non-U.S. persons in compliance with Regulation S.
IG Port Surges on Announcement of Sequel to Hit Anime "Ascendance of a Bookworm"
IG Port, a major anime production company, surged sharply, closing on the 6th at 1,156 yen, up 43 yen from the previous day and marking its highest level in about three months. After the close of trading on the 5th, the company announced that a television anime, "Ascendance of a Bookworm: The Self-Proclaimed Librarian of the Royal Academy," handled by a consolidated subsidiary, has been greenlit for production. The work is based on a popular bibliophile fantasy whose cumulative circulation, including e-books, has surpassed 14 million copies, making it a highly anticipated series, and the sequel production announcement came immediately after the previous installment, the "Adopted Daughter of the Lord" arc, aired its final episode on the 3rd. Animation production will again be handled by Wit Studio, a consolidated subsidiary of the company, continuing from the previous installment. The view spread that maintaining the proven production setup would ensure high quality and sustained popularity, drawing inflows of funds in anticipation of future growth in related revenue and contributions to earnings such as licensing income.
3791.JP · Demand · Positive IG Port announced a greenlit sequel anime handled by its subsidiary Wit Studio, a concrete new production expected to drive licensing and related revenue.
WIT Studio · Demand · Positive Wit Studio, a consolidated subsidiary of IG Port, will again handle animation production for the newly greenlit 'Ascendance of a Bookworm' sequel.
Nintendo to Launch Switch 2 Bundle With One Game Next Month on the 12th
Nintendo announced on the 6th that it will release a "Choose Your Game Set" for its home console, the Nintendo Switch 2, that includes one game, on the 12th of next month. The suggested retail price is 63,980 yen, which the company says is cheaper than buying the items separately. The set is the Japanese-language version, for domestic use only, and after purchase buyers can download one of three titles at no additional charge: Mario Kart World, Nintendo Switch Sports Resort, or Tomodachi Collection Waku Waku Life. The download is valid until March 31, 2027. The company explained that it chose these three titles so the product would serve as an opportunity for people to take an interest in the Switch 2 and pick one up.
7974.JP · Pricing · Positive Nintendo launches a Switch 2 bundle with one game at 63,980 yen, a lower effective price than buying separately, to spur interest in the console.
Nintendo to Launch Switch 2 Bundle With One Game Next Month on the 12th
Nintendo announced on the 6th that it will release a "Choose Your Game Set" for its home console, the Nintendo Switch 2, on the 12th of next month, bundling one game with the system. The suggested retail price is 63,980 yen, which the company says is cheaper than buying the items separately. The set is the Japanese-language version, for domestic use only, and after purchase buyers can download one of three titles at no additional charge: Mario Kart World, Nintendo Switch Sports Resort, or Tomodachi Collection: Waku Waku Life. The offer is valid through March 31, 2027. The company explained that it chose these three titles so the product would serve as an opportunity for people to take an interest in the Switch 2 and pick one up.
GMM MUSIC first-half profit jumps 29.2%, revenue reaches 2,161.2 million baht
GMM Music Public Company Limited, or GMM MUSIC, reported first-half 2026 results with total revenue of 2,161.2 million baht, up 12.2% from the same period a year earlier, and net profit of 280.7 million baht, up 29.2%. Its net profit margin rose to 13.0% from 11.3% in the same period last year, amid a slowing economy and an entertainment business that has seen continuous negative growth. The artist management business posted a record-high revenue of 730.8 million baht, growing 17.9%, while the digital music business generated 533.3 million baht, growing 15.2%, driven by partnerships with YouTube, Spotify, TikTok and Meta, with revenue on TikTok growing 82.9% and Spotify growing 29.5%. The copyright management business had revenue of 156.1 million baht, growing 12.3%, and together with digital music revenue accounted for as much as one-third of the company's total revenue. The showbiz business generated 496.3 million baht, growing 8%, with 272,462 attendees in the first half and a compound annual growth rate of 20.6% in total attendance for the full year. Chief Executive Officer Phawit Chitrakorn said the company is intensively focusing on re-engineering the organisation, a project that began last year, with a focus on five-year planning so that GMM Music becomes stronger and remains a pillar of revenue generation for GMM GRAMMY going forward.
AMC Completes $3.97 Billion Refinancing, Extending Debt Maturities to 2031 and 2033
AMC Entertainment Holdings announced it has completed a $3.97 billion refinancing of its existing debt, extending nearly all of its maturities to October 2031 and October 2033. The transaction comprised three components: $2,000 million aggregate principal amount of first lien notes due 2031, a new $850 million first lien term loan facility, and a new second lien term loan facility provided by Deutsche Bank Special Situations Group in an aggregate principal amount of $1,120 million. Proceeds, together with cash on hand, funded the tender offer for AMC's 7.500% Senior Secured Notes due 2029, in which $355,515,000 aggregate principal amount, or approximately 98.8% of the $359,964,500 outstanding, were validly tendered and settled on October 5, 2026, and will fund the redemption of any remaining notes on or about February 15, 2027, the full redemption of Muvico's $903.4 million of Senior Secured Notes due 2029, and repayment of AMC's and Odeon Finco PLC's existing term loan facilities. Chairman and CEO Adam Aron called the deal a significant milestone, saying it refinanced approximately 97% of AMC's debt, simplified its capital structure and reduced its cost of capital, and noted that AMC has paid down nearly $2 billion of long-term debt and COVID-related lease deferrals since 2020, leaving a remaining debt load of approximately $4 billion. The notes and related guarantees were offered only to qualified institutional buyers under Rule 144A and to non-U.S. investors under Regulation S.
AMC · Capital · Positive AMC completed a $3.97B refinancing extending nearly all debt maturities to 2031/2033, simplifying its capital structure and lowering its cost of capital.
Muvico, LLC · Capital · Positive The refinancing funds the full redemption of Muvico's $903.4 million of Senior Secured Notes due 2029, retiring that debt.
Odeon Finco PLC · Capital · Positive Proceeds will repay Odeon Finco PLC's existing term loan facility as part of AMC's refinancing.
San Diego Launches Consumer Protection Unit, Sues AppLovin, Roblox and Polymaker
San Diego County launched its new Consumer Fairness and Public Protection Unit on October 06, 2026, filing its first three lawsuits against AppLovin, Roblox and Polymaker over children's safety, consumer privacy and 3D-printed ghost guns. The unit was championed by Board Chair Terra Lawson-Remer, who first called for a local consumer protection division in her 2025 State of the County Address, arguing San Diego needed stronger local enforcement as federal consumer protections were rolled back. The County's complaint against AppLovin, a digital advertising platform whose technology reaches more than 1 billion daily active users worldwide, alleges its technology bypassed parental controls to serve ads for adult dating, alcohol, vaping, cannabis, graphic sexual content and violence inside mobile games used by children, and collected sensitive data from children's devices; the County brings claims under California's False Advertising Law and Unfair Competition Law and seeks injunctive relief, restitution and civil penalties, with Bernstein Litowitz Berger & Grossmann LLP serving as outside counsel. The Roblox complaint alleges the platform, with about 144 million daily active users worldwide, marketed itself to parents and children as safe while failing to stop adults from posing as children and grooming young users, and seeks injunctive relief under California's Unfair Competition Law and False Advertising Law. The Polymaker complaint alleges the 3D-printing filament maker deliberately marketed certain filaments to people making 3D-printed ghost guns, including sponsoring gun-printing influencer Sean Aranda and later hiring him as its Head of Customer Experience, and the County asks the court to stop these practices, impose civil penalties and require Polymaker to give up proceeds tied to unlawful conduct. County Counsel Damon Brown said the three lawsuits, filed in San Diego Superior Court, are proof the office has hit the ground running.
APP · Regulation · Negative San Diego County sued AppLovin alleging its ad tech bypassed parental controls and collected children's data, seeking penalties and injunctive relief.
RBLX · Regulation · Negative San Diego County sued Roblox alleging it marketed itself as safe while failing to stop adults grooming young users.
Polymaker · Regulation · Negative San Diego County sued Polymaker alleging it marketed 3D-printing filaments to people making ghost guns, seeking penalties and injunctive relief.
MAJOR's Q3 revenue grows against the low season, Yuanta raises target to 9.75 baht
Major Cineplex Group Public Company Limited, or MAJOR, expects its third-quarter 2026 operating results to grow both year-on-year and compared with the second quarter of 2026, even though this is the off-season for the cinema business, driven by several hit films. The top five films generated combined box office revenue of 751 million baht, up 29% year-on-year and 253% quarter-on-quarter, led by Spider-Man: Brand New Day with 327 million baht, The Odyssey with 193 million baht, and The Medium's Confession with 165 million baht. This supported a recovery in food and beverage revenue as well as advertising revenue both year-on-year and quarter-on-quarter. Meanwhile, the film Thi Yot Seming Khao Kwang, which opened on 30 September 2026, has already earned more than 50 million baht at MAJOR's own cinemas. The company also earns revenue from co-producing films as a co-producer, receiving the first 50% share as a cinema operator and another 50% from film rights revenue shared by its partners. For the fourth quarter of 2026, the company expects operating results to have the opportunity to grow further from the third quarter of 2026, thanks to several major films, especially Avengers, for which advance tickets are already on sale at 61 eligible branches and will go on sale at all branches in mid-month, as well as Dune and films from GDH. Meanwhile, Yuanta Securities (Thailand) Company Limited maintained its "Buy" recommendation and raised its 2027 base valuation from 9.20 baht to 9.75 baht after the buyback and reduction of registered capital by 75.67 million shares, or 9.98% of all shares, which is positive and leaves 682.25 million shares outstanding. It also estimated a dividend payout rate of 3.09% in 2026 and 3.25% in 2027. Meanwhile, the Major popcorn business, run jointly with TKN through the joint venture TKN & Major Popcom Co., Ltd., targets 2026 sales of 1.5 to 2.0 million units per month, up from about 0.4 to 0.5 million baht per month when MAJOR operated it alone.
MAJOR.BK · Capital · Positive Yuanta maintains Buy and raises 2027 base valuation to 9.75 baht after the buyback and 9.98% capital reduction.
MAJOR.BK · Demand · Positive Q3 revenue grows on hit films (top five box office up 29% YoY) and F&B/advertising recovery, with Q4 expected higher on Avengers/Dune.
TKN & Major Popcorn Co., Ltd. · Demand · Positive Major popcorn business is mentioned as benefiting from the cinema traffic and hit-film slate driving F&B revenue.
Firy announced on Monday that it completed the sale of its 10.5% stake in Exit Games back to the company for $55M in cash. The deal closed on October 2, with Firy receiving the full proceeds and adding the cash to its balance sheet. Firy originally invested $50M in July 2021, making the sale a roughly 1.1x return on its investment. The company said the cash provides flexibility to pursue other opportunities, while noting its realized return was about 22 times the average five-year distribution multiple for 2021-vintage U.S. venture funds.
FIRY · Capital · Positive Firy completed the sale of its 10.5% Exit Games stake for $55M cash, a ~1.1x return adding flexibility to its balance sheet.
Exit Games · Capital · Neutral Exit Games bought back Firy's 10.5% stake for $55M cash, a capital transaction with no clear positive or negative implication stated.
Warner Bros. Discovery Earns Zacks Rank #3 as Quarterly EPS Estimate Holds at $0.02
Warner Bros. Discovery holds a Zacks Rank #3 (Hold), with the consensus estimate for the current quarter unchanged over the last 30 days at $0.02 per share, a swing of +133.3% from the year-ago quarter. For the current fiscal year, the consensus earnings estimate stands at -$1.08, a year-over-year change of -472.4%, and that figure has moved +2% over the past 30 days, while the next fiscal year's consensus estimate of $0.1, up +109.3% from the expected year-ago result, has fallen -41.2% over the past month. On the revenue side, the consensus sales estimate for the current quarter is $8.84 billion, a year-over-year change of -2.3%, with $36.22 billion and $37.51 billion expected for the current and next fiscal years, changes of -2.9% and +3.6% respectively. In the last reported quarter, Warner Bros. Discovery posted revenues of $8.72 billion, down -11.2% year over year and a -6.19% surprise against the Zacks Consensus Estimate of $9.29 billion, while EPS of $0.06 compared with $0.63 a year ago for a +146.15% surprise. The stock has returned +9.5% over the past month against the Zacks S&P 500 composite's +0.6% change, even as the Zacks Broadcast Radio and Television industry lost 10.6% over the same period, and it carries a Zacks Value Style Score of D, indicating it trades at a premium to its peers.
WBD · Capital · Neutral Zacks Rank #3 (Hold) with unchanged quarterly EPS estimate of $0.02, mixed estimate revisions and a Value Score of D — a valuation/earnings-estimate update with no clear directional signal.
Spotify Faces Expected EPS Decline Ahead of October 22 Earnings Report
Spotify Technology S.A. is heading into its October 22 earnings report with analysts expecting an 18.54% decline in earnings per share alongside 15.31% revenue growth, sharpening attention on how effectively the company converts engagement into sustainable profitability. The company recently presented at the 2026 North American Marketing Leadership Summit in Phoenix, where Global Director of Business Brand Marketing Rachel Brooks outlined its latest branding and engagement initiatives. In August 2026, Spotify expanded its share buyback authorization to US$2,000 million, a move that signals management's willingness to return excess capital even as earnings come under pressure. Spotify's narrative projects €26.7 billion in revenue and €4.2 billion in earnings by 2029, requiring 13.7% yearly revenue growth and roughly a €0.9 billion increase from €3.3 billion today. Some of the lowest ranked analysts were already more cautious, assuming revenue of about €26.5 billion and shrinking margins by 2029.
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