NEW YORK, December 29, 2025, 10:05 ET — Regular session
- Netflix shares up about 0.2% in early New York trading, despite a softer open for U.S. stocks.
- Investors remain focused on the regulatory path and financing for Netflix’s proposed Warner Bros Discovery deal.
- Netflix’s next scheduled catalyst is its fourth-quarter results on Jan. 20, the company said.
Netflix (NFLX.O) shares edged higher on Monday, trading up 0.2% at $94.63 by 10:05 a.m. ET.
The stock’s muted move comes as investors head into the final stretch of the year with a single question dominating the narrative: whether Netflix can land a transformative Warner Bros Discovery deal without a long regulatory fight, while keeping growth and margins on track.
With Netflix set to report results next month, traders are positioning for fresh guidance and any update on the transaction’s timeline and financing, after weeks of headline-driven swings across the media sector.
Wall Street opened lower on Monday as heavyweight technology stocks gave up some ground after last week’s gains, Reuters reported. The Dow was down 0.15% at the open, the S&P 500 slipped 0.38% and the Nasdaq dropped 0.76%.
Entertainment and streaming peers were mixed. Walt Disney rose about 0.4%, while Warner Bros Discovery added about 0.8% and Roku fell about 1.2%.
Netflix agreed on Dec. 5 to buy Warner Bros Discovery’s TV and film studios and streaming division for $72 billion, Reuters reported. The deal is expected to close after Warner Bros completes a planned spinoff of its global networks unit in the third quarter of 2026.
The proposed acquisition has also become a competitive flashpoint. Paramount Skydance has pursued Warner Bros with a $30-per-share all-cash bid and, in a bid to bolster its financing, Oracle co-founder Larry Ellison offered a personal guarantee of $40.4 billion, Reuters reported.
“I doubt many Warner Bros shareholders that are on the fence or planning to vote no were holding out,” said Seth Shafer, a principal analyst at S&P Global, in comments cited by Reuters. Reuters
Both potential combinations face antitrust scrutiny in the United States and Europe, Reuters has reported, a key overhang for Netflix investors because a tie-up would further expand the market leader’s position in streaming.
An SEC filing on Dec. 19 showed Netflix replaced part of its bridge financing — short-term funding companies use while lining up longer-term debt — with a $5 billion revolving credit facility and up to $20 billion in delayed-draw term loans. The facilities can be used to fund the cash portion of the purchase price and related costs, the filing said.
Next up, Netflix said it will post fourth-quarter results and its business outlook on Jan. 20, 2026, at about 1:01 p.m. Pacific time, followed by a live video interview with executives at 1:45 p.m., according to a company release.
That report is expected to sharpen investors’ focus on advertising momentum, content spending and cash generation, as well as any detail on how management plans to integrate Warner Bros assets if the deal clears regulators. Reuters has reported Netflix stopped disclosing subscriber figures earlier this year, pushing Wall Street to weigh performance through revenue and profitability instead.
For now, Netflix shares are holding near $95 in early trade, with the next decisive catalyst seen as January’s earnings and any sign of regulatory feedback on the proposed deal.
