![\"Netflix](\"https:\/\/www.newsbeep.com\/ca\/wp-content\/uploads\/2026\/04\/ddad9688b66997eb0382cc4e26893786.jpeg\")
Netflix says the World Baseball Classic held earlier this year boosted its popularity in Japan, one of the coutries where games were played (MARIO TAMA) \u00b7 MARIO TAMA\/GETTY IMAGES NORTH AMERICA\/Getty Images via AFP <\/p>\n Netflix says the World Baseball Classic held earlier this year boosted its popularity in Japan, one of the coutries where games were played (MARIO TAMA) \u00b7 MARIO TAMA\/GETTY IMAGES NORTH AMERICA\/Getty Images via AFP <\/p>\n
Netflix shares plummeted more than 8 percent on Thursday as the TV streaming titan reported quarterly revenue of $12.25 billion, which slightly topped expectations.<\/p>\n
An earnings letter to investors came with word that co-founder Reed Hastings will step away from the company when his term as chairman of the board of directors ends in June.<\/p>\n
“Netflix changed my life in so many ways,” Hastings wrote in the letter.<\/p>\n
“My all\u2011time favorite memory was January 2016, when we enabled nearly the entire planet to enjoy our service.”<\/p>\n
Netflix faces increasing competition from rival streaming services as well as short-form video platforms like TikTok that vie for people’s attention.<\/p>\n
The share price plunge came despite Netflix reporting profit of $5.28 billion, which was boosted by a fee received for the termination of a deal to buy Warner Bros. Discovery.<\/p>\n
During the recently ended quarter, Netflix declined to sweeten its takeover offer of Warner Bros, effectively ceding the media giant to a rival bid from Paramount Skydance after deciding the deal was no longer financially attractive.<\/p>\n
Netflix logged a termination fee of $2.8 billion related to the nixed deal, according to its earnings report.<\/p>\n
Netflix not following through on the arrangement will likely see the storied Hollywood studio and a group of TV properties which includes CNN fall into the hands of Paramount, fundamentally reshaping US media.<\/p>\n
Paramount’s deal to buy Warner Bros. Discovery is in a regulatory and shareholder approval phase.<\/p>\n
The bidding war had drawn White House attention, with President Donald Trump insisting he had a say in the outcome.<\/p>\n
Oracle founder Larry Ellison is the father of Paramount Skydance CEO David Ellison.<\/p>\n
Larry Ellison, a longtime Trump ally, largely financed his son’s takeover of Paramount and his subsequent bid for Warner Bros. Discovery.<\/p>\n
A victory by Paramount would see CNN — often the target of Trump’s threats and criticism — pass to Ellison family control, amid backlash that a Paramount-owned CBS would see changes to the White House’s liking.<\/p>\n
Netflix shares climbed after it stepped away from the Warner bidding, with analysts noting that the money it saved could be invested in audience-drawing shows and its potentially lucrative advertising business.<\/p>\n
gc\/jgc<\/p>\n","protected":false},"excerpt":{"rendered":"Netflix says the World Baseball Classic held earlier this year boosted its popularity in Japan, one of the…\n","protected":false},"author":2,"featured_media":609187,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[45,49,48,20522,1316,862,44058,229704,4432],"class_list":["post-609186","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-business","tag-ca","tag-canada","tag-larry-ellison","tag-netflix","tag-president-donald-trump","tag-reed-hastings","tag-termination-fee","tag-warner-bros"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/609186","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=609186"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/609186\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/609187"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=609186"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=609186"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=609186"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}