According to Gary Black, WBD rose 4.4% to $29.50 and is likely to move higher as PSKY raises its bid above the prior $30 per share cash offer, source: Gary Black on X, Dec 10, 2025. He reports NFLX submitted a $27.75 per share proposal composed of $23.25 cash and $4.50 stock, deemed superior by WBD’s Board because it excludes the global network business slated for a spin-off that NFLX values at $3 per share, source: Gary Black on X, Dec 10, 2025. He adds that PSKY’s $30 per share cash bid covers the entire company including the global network business, source: Gary Black on X, Dec 10, 2025. He also notes the NFLX route faces regulatory headwinds given approximately 36% industry concentration for a combined NFLX/Paramount streaming business, source: Gary Black on X, Dec 10, 2025. No direct cryptocurrency market impact was cited, source: Gary Black on X, Dec 10, 2025.