Netflix Hit with Class Action Lawsuit Regarding Warner Bros. Discovery Asset Purchase Agreement

Netflix Acquisition Scrutiny: Netflix's $72 billion acquisition of Warner Bros. Discovery is facing a consumer class action lawsuit, claiming it may limit choices for subscription streaming services in the US, alongside concerns from Congress regarding antitrust implications.

Paramount's Hostile Bid: Paramount Skydance has initiated a hostile takeover attempt of Warner Bros. Discovery, proposing an all-cash offer of $30 per share, valuing the company at $108.4 billion.

Netflix's Defense: In response to the lawsuit, Netflix has labeled the claims as baseless, suggesting they are merely a tactic by plaintiffs' lawyers to gain attention on the deal.

Employment Data Update: The ADP Employment Change report for November indicates a decrease of 32,000 jobs in the US, significantly lower than the previous month's increase of 42,000 and below the forecast of 10,000.