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Fortune
Fortune
Diane Brady

Netflix needs Warner Bros.'s IP and franchises to remain the default streaming service

Ted Sarandos attends Netflix's "The New Yorker At 100" New York Screening at The Paris Theatre on December 04, 2025 in New York City. (Credit: Theo Wargo/Getty Images)
  • In today’s CEO Daily: Diane Brady breaks down Netflix’s blockbuster deal for Warner Bros. Discovery.
  • The big story: China’s trade surplus surpasses $1 trillion.
  • The markets: Mixed, with U.S. futures edging up.
  • Plus: All the news and watercooler chat from Fortune.

Good morning. There’s a lot of debate over last week’s surprise announcement that Netflix struck an $83 billion deal to acquire Warner Bros. Discovery. President Donald Trump said Sunday that their combined market share “could be a problem,” and the deal will face international scrutiny, too. Some takeaways so far:

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