Netflix elbows out the competition bidding to take over Warner Bros.
Studios and streaming business.
Plus, the Supreme Court clears the way for Texas to use a controversial new congressional map,
boosting the GOP's chances of keeping control of the house.
And the stocks and crypto linked to President Trump that have some investors sitting on steep losses.
We've seen a couple different publicly traded assets with ties to the president and his family that are really struggling,
hitting new lows,
kind of in contrast to how they were performing earlier this year when some investors made a lot of money on this stuff.
It's Friday, December 5th.
I'm Daniel Bach for The Wall Street Journal, and here is the AM edition of What's News.
The top headlines and business stories moving your world today.
We begin in LA, where Warner Bros.
Discovery has entered exclusive negotiations to sell its studios and HBO Max streaming business to Netflix.
We are reporting that Netflix and Warner are expected to announce a deal soon in a tie-up that could reshape the entertainment and media industry.
Journal Entertainment reporter Joe Flint joins me from Los Angeles.
Joe, we had reported that Paramount was the front-runner.
Why is Netflix now the leading contender?
Well, it's certainly quite a surprise, not only to us folks in the trenches covering it,
but I think a lot of Wall Street analysts as well were dubious about how serious Netflix was.
But in the last several days,