Television

If Warner’s board changes course and deems Paramount’s latest offer superior, Netflix will be able to revise its bid.

Warner Bros Discovery (WBD) says it is reviewing a new takeover offer from Paramount Skydance, but it continues to recommend a competing proposal from Netflix to its shareholders in the meantime.

Warner disclosed on Tuesday that it had received a revised offer from Paramount after a seven-day window to renew talks with the Skydance-owned company elapsed on Monday. Paramount – which is run by David Ellison, son of United States President Donald Trump ally and Oracle cofounder Larry Ellison – confirmed it had submitted the proposal, but neither company provided details about it. The company was widely expected to have raised its offer.

A WBD buyout would reshape Hollywood and the wider media landscape, bringing HBO Max, cult-favourite titles like Harry Potter and, depending on who wins the Netflix vs Paramount tug-of-war, potentially even CNN under a new roof.

Paramount wants to acquire Warner Bros in its entirety, including networks like CNN and Discovery, and went straight to shareholders with an all-cash, $77.9bn hostile offer just days after the Netflix deal was announced in December. Accounting for debt, that bid offered Warner stakeholders $30 per share, amounting to an enterprise value of about $108bn.

Paramount maintained on Tuesday that its tender offer remains on the table while Warner evaluates its latest proposal.

Netflix wants to buy only Warner’s studio and streaming business for $72bn in cash, or about $83bn including debt. Warner’s board has repeatedly backed this deal and on Tuesday maintained that its agreement with Netflix still stands.

Warner shareholders are to vote on the Netflix proposal on March 20.

If Warner’s board changes course and considers Paramount’s latest offer superior, Netflix would have a chance to match or revise its proposal, potentially setting the stage for a new bidding war. It could also choose to walk away.

Further consolidation

Paramount, Warner and Netflix have spent the last couple of months in a heated back and forth over who has the stronger deal. But along the way, lawmakers and entertainment trade groups have sounded the alarm, warning that either buyout of all or parts of Warner’s business would only further consolidate power in an industry already run by just a few major players. Critics said that could result in job losses, less diversity in filmmaking and potentially more headaches for consumers who are facing rising costs of streaming subscriptions as is.

Combined, that raises tremendous antitrust concerns – and a Warner sale could come down to who gets the regulatory greenlight. The US Department of Justice has already initiated reviews, and other countries are expected to do so too.

Both Paramount and Netflix have argued that their proposals are good for consumers and the wider industry. And the companies have taken aim at each other publicly with regulatory arguments.

Paramount has pointed to Netflix’s much larger market value, and it has argued that if the streaming giant acquires Warner, it would only give it more dominance in the subscription video-on-demand space. But Netflix is trying to persuade regulators that it’s up against broader video libraries, particularly Google’s YouTube, America’s most-watched TV distributor.

Paramount’s bid will create a studio bigger than market leader Disney and fuse two major TV operators, which some Democratic senators said would control “almost everything Americans watch on TV”.

It will also hand control of CNN to the conservative-leaning Ellisons, soon after they acquired CBS News and installed as its editor-in-chief Bari Weiss, a right-leaning opinion editor who had no prior TV experience. The network settled for $16m a lawsuit that Trump had filed, accusing CBS’s 60 Minutes programme of editing an interview with Kamala Harris to his 2024 presidential election rival’s advantage. It also appointed Kenneth Weinstein, a former Trump administration official, as ombudsman to investigate allegations of bias.

In December, Ellison visited the White House, media reports said, and told Trump that Paramount would execute “sweeping changes” if it acquired CNN’s parent company.

More recently, Trump, in a Truth Social post on Saturday, demanded that Netflix fire former US National Security Adviser Susan Rice from its board. Rice, a Black woman, had served under former Presidents Barack Obama and Joe Biden, both Democrats.

“This is a business deal. It’s not a political deal,” Netflix CEO Ted Sarandos told BBC Radio 4’s flagship Today programme on Monday. “This deal is run by the Department of Justice in the US and regulators throughout Europe and around the world.”

Trump previously made unprecedented suggestions about his involvement in seeing a deal through before walking back those statements and maintaining that regulatory approval will be up to the Justice Department.

A beloved children’s programme is now available to watch for free on a streaming service.

A classic children’s programme is streaming for free from today on ITVX.

Captain Pugwash first aired on British television in 1957 as a black-and-white stop-motion show, before the full colour version of the series was first broadcast from 1974-75.

The series is based on the much loved children’s comic strips and books created by Josh Ryan.

It follows Captain Horatio Pugwash as he sails the high seas in his ship, the Black Pig, ably assisted by Tom the captain boy, pirates Willy and Barnabas and Master Mate.

Along their adventures, they’re battling against his mortal enemy, Cut-Throat Jake, captain of the Flying Dustman.

The children’s animation was written, illustrated and produced by John Ryan, before Peter Hawkins voiced all the characters, bringing them to life.

Captain Pugwash originally ran from 1957 to 1966 before being revived in colour in the 70s, and again in 1997.

The synopsis teases on ITVX: “The bumbling 50s kids TV star is back on screen. Join him aboard the Black Pig & meet cabin boy Tom, pirates Willy & Barnabas, & Master Mate. Beware of the enemy Cut-Throat Jake.”

Viewers have been left reminiscing on the iconic childhood series, with one writing on Reddit : “Love Pugwash – have complete set of DVDs.”

Another said: “I can hear the theme tune in my head right now,” as a third elsewhere wrote: “Ooh wow, that brings back memories, brilliant.”

This comes as ITV has added a variety of returning and new programmes to the streaming service, with more yet to come this year.

In a press release announced earlier this year, the broadcaster shared: “ITV will ring in the new year with a raft of brand new dramas, exclusive entertainment shows, much loved juggernauts and big name reality.

“Jing Lusi, Michelle Keegan, Martin Compston, Natalie Dormer, Shaun Evans, Romala Garai, Eve Myles, Gemma Arterton, Rafe Spall, Dominic Cooper, Luke Evans, David Morrissey, Douglas Booth, Sophie Rundle, Philip Glenister, Mia McKenna-Bruce, Rishi Nair, Robson Green, Aimée-Ffion Edwards, Daniel Mays, Ben Miller, John Simm, Richie Campbell and Omid Djalili are just some of the names appearing in ITV dramas over the next twelve months.”

Drama includes Michelle Keegan’s The Blame, The Party, based on the acclaimed novel by Elizabeth Day, Gemma Arterton leading a stellar cast in Secret Service, and new scandalous drama Adultery.

Elsewhere in entertainment, Graham Norton hosts a street-sized reality game, The Neighbourhood, Rob Brydon is fronting new gameshow The Floor and Gary Lineker is hosting The Box. Ben Shephard ’s The Summit has already begun, and I’m A Celebrity All Stars will return alongside Britain’s Got Talent, Ant & Dec’s Limitless Win and The 1% Club.

Captain Pugwash is available to watch on ITVX.

Brendan Carr, the chair of the Federal Communications Commission (FCC) in the United States, has confirmed that the agency launched an investigation against ABC’s daytime talk show The View over a recent appearance by a politician.

In comments to reporters on Wednesday, Carr indicated the probe would examine whether The View violated a new interpretation of an “equal time” rule implemented under President Donald Trump.

Fox News had been the first to report on the investigation in early February. The segment in question involves an appearance from Texas state Representative James Talarico, a Democrat who is vying for the US Senate.

The confirmation comes as Carr attempted to shut down claims that the government censored an interview between Talarico and late-night talk show host Stephen Colbert.

“There was no censorship here at all,” Carr said.

“Every single broadcaster in this country has an obligation to be responsible for the programming that they choose to air, and they’re responsible whether it complies with FCC rules or not, and it doesn’t, and those individual broadcasters are also going to have a potential liability.”

The controversy with Colbert likewise stems from the Trump administration’s decision to shift definitions under the “equal time” rule.

What is the ‘equal time’ rule?

The rule is part of section 315 of the 1934 Communications Act. Under that law, if a broadcaster allows one candidate for public office to use its facilities, it is required to “afford equal opportunities” to all other candidates in the same race.

But the law includes exceptions for “bona fide newscasts” and “bona fide news interviews”.

For nearly 20 years, talk shows and late-night comedy programmes were included in those categories.

In January, however, the FCC issued new guidance (PDF) that significantly narrows how it interprets the “bona fide news” exemption. In a memo, it described daytime talk shows and late-night comedy as “entertainment programs” that fall outside the exception.

“The FCC has not been presented with any evidence that the interview portion of any late night or daytime television talk show program on air presently would qualify for the bona fide news exemption,” the memo reads.

The commission also suggested that many such programmes are “motivated by partisan purposes” and are therefore not “bona fide” news.

The new interpretation of the “equal time” rule, the FCC argued, is designed to “ensure that no legally qualified candidate for office is unfairly given less access to the public airwaves than their opponent.”

Controversy with Colbert

That new interpretation came roaring into the spotlight on Monday, after a broadcast of the CBS comedy programme The Late Show with Stephen Colbert.

In one of his opening segments, Colbert alleged that the network lawyers barred him from airing a planned interview that night with Talarico.

“Let’s just call it what it is,” Colbert told his audience. “Donald Trump’s administration wants to silence anyone who says anything bad about Trump on TV, because all Trump does is watch TV. OK? He’s like a toddler with too much screen time.”

Trump has previously criticised both Colbert’s show and The View for what he considers a left-wing slant.

Instead of broadcasting his interview with Talarico on network television, Colbert instead posted the segment on the programme’s YouTube page, where it has gained more than 6 million views as of 3:30pm Eastern Time (20:30 GMT) on Wednesday.

According to Carr, Colbert’s show could have aired the Talarico interview if it had complied with the equal time rule.

That would have involved allowing other candidates in Texas vying for the Senate seat to come on the show. Carr also suggested that another solution could have been to restrict the broadcast in Texas.

But the FCC has continued to face criticisms for its actions. In Tuesday’s broadcast, Colbert addressed the issue a second time.

He read aloud a statement from his broadcast channel that read, in part, that The Late Show “was not prohibited by CBS from broadcasting the interview” and that it was instead “provided legal guidance that the broadcast could trigger the FCC equal-time rule”.

CBS added, in the statement, that Colbert could have invited onto the show Talarico’s rivals, including fellow Democrat Jasmine Crockett.

“I am well aware that we can book other guests,” Colbert responded. “I didn’t need to be presented with that option. I’ve had Jasmine Crockett on my show twice. I could prove that to you, but the network won’t let me show you her picture without including her opponents.”

Colbert has been a vocal critic of CBS’s parent company, Paramount Global, particularly after it settled a lawsuit last year with the Trump administration for $16m in the run-up to a critical merger for which it needed government approval.

Talarico, meanwhile, accused the FCC of censoring his interviews. Nevertheless, on Wednesday, he noted that the uptick in media attention from the scandal has helped him gather donations.

“Our campaign raised $2.5 million in 24 hours after the FCC banned our Colbert interview,” he wrote on social media.