Although Netflix Inc. and Paramount Skydance have wagered competing bids for Warner Bros. Discovery Inc., Paramount's offer includes the struggling cable TV networks, while Netflix's offer does not include these assets.

California

Paramount and Netflix have submitted competing offers for Warner Brothers Discovery, but their proposals differ significantly in scope. Paramount seeks to acquire the entire company, including cable networks such as CNN, while Netflix is interested only in the streaming and studio segments, leaving the fate of the cable assets uncertain.

The valuation of these cable networks is a central issue, with Paramount suggesting a lower value and Bloomberg Intelligence estimating their worth at around $4 billion. The situation reflects broader industry trends, as declining cable audiences prompt media companies to reconsider the future and value of their traditional cable holdings.

Warner Bros. fight hinges on value of shrinking cable assets

The Netflix offer and the Paramount offer, they're not apples to apples because Paramount's offer includes the cable networks. Just give us the details there. Yeah, that's totally correct. So they're different numbers and they're different assets. You know, Paramount wants the whole company. They want all of Warner Brothers Discovery, including those cable channels like CNN. Which would mean CNN would live alongside CBS, which would be this bizarro world that has never existed before, but could exist in the future. Exactly. Netflix, they just want streaming in studios. Which makes sense because they're not, they don't have those assets right now. So it would be really outside of their core competency to bring in, you know, live TV. That's right, yeah. And you know, if Netflix takes it, you know, we'll see the spinoff of Discovery Global. You know, those would be those cable networks. Okay, so then it raises the question of what ends up happening to those spinoffs and how are they valued? Yeah, so that's the huge question here that, you know, shareholders, the board, that's what they're looking at. And weighing these two offers. They're trying to determine which one is superior. And the value of those cable networks, that's a key factor in that. And, you know, Paramount is arguing that those cable networks are low, maybe around a dollar per share. And, you know, the lower that they want it, the sweeter their deal looks. Yeah, exactly. I think we're kicking around $4 billion with our own internal Bloomberg Intelligence folks. Having said that, I think, you know, Hannah, you want to take a step back, go back 10 years, 20 years. Who would have thunk, right, that the cable industry would be facing such troubles or declining audiences? But here we are. I mean, viewers have a lot of options. It's true, yeah. And it's very interesting to see this consolidation play out. You know, you would maybe see two news organizations living alongside each other. You know, these struggling cable networks housed under one entity if Paramount gets it. So it'll be very interesting to see how this plays out. Although you think about NBC or something, right? They moved into a business news channel. They have MSNBC or used to have MSNBC, not anymore. But I'm saying the idea of Paramount having kind of a traditional network and then another cable network, some have thought, you know, they have some digital, I think, you know, offerings, but it doesn't necessarily make, it's not crazy. Yeah, I mean, and I think we have to remember here that, you know, the most valuable IP is that movie and studio stuff. We know Paramount is leaning really hard. Feeding the beast, the content beast. Yes, and David Ellison really wants to build out that Paramount Plus streaming service. Well, I think Carol brings up a really good point. And that's when, this is what she was flicking at, this idea that, you know, even traditional media companies that have long had these storied cable assets, they're now trying to figure out what the future of those are. So you have, you know, CNBC and the company for, or the network formerly known as MSNBC, now MSNOW, being spun off into this separate publicly traded entity that Comcast has ownership of called Versant. And, you know, they're trying to figure out, okay, how are we gonna value that? Yeah, and it'll be interesting to see, you know, Versant is supposed to start trading in the new year. And that value, I mean, who knows? We'll see if that could play into what's happening with these negotiations. Good point.

In Australia, millions of kids' social media profiles are going dark, as the country's new social media ban takes effect for anyone under 16. Jo Ling Kent reports.

Canberra

Australia's social media ban takes effect for kids under 16

President Trump, in recent months, has dismissed concerns about affordability, but this evening, in the battleground state of Pennsylvania, he is focusing on the crisis and touting his administration's efforts to lower the cost of living. Nancy Cordes has more.

Pennsylvania

Trump tries to flip the script on affordability

Dozens of protesters blocked a highway near Tel Aviv to demonstrate against moves by the Israeli government to force some ultra-Orthodox Jews into mandatory military service, something they are currently exempt from so they can study the Torah full time.

Tel Aviv-Yafo

Bill over ultra-Orthodox military conscription sparks protests in Israel

President Trump has told Politico that Nicolas Maduro's "days are numbered" in Venezuela. Political strategists Kevin Sheridan and Hyma Moore join with analysis.

Washington

Trump says Maduro’s “days are numbered”

The FBI has released a new photo of former Olympian Ryan Wedding, whom the bureau’s director has described as a “modern day iteration of Pablo Escobar.” The ex-skier and snowboarder remains at large as agents continue their search.

FBI releases photo of Olympian and alleged drug kingpin Ryan Wedding

Ukraine President Volodymyr Zelenskyy met Pope Leo XIV and Italian Premier Giorgia Meloni in Rome on Tuesday (December 9), meanwhile voicing his refusal to surrender territory to Moscow despite pressure from Washington for territorial concessions.

Rome

Ukraine Invasion

Zelenskyy seeks backing from Pope Leo XIV, Italian PM Meloni

A federal judge said Tuesday (December 9) that the Department of Justice can unseal the Ghislaine Maxwell sex trafficking case records. CBS News' Scott MacFarlane has more details.

Judge says DOJ can unseal Ghislaine Maxwell trafficking case records

Prosecutors on Monday (December 8) released new evidence seized from Luigi Mangione on the day of his arrest. He is accused of killing UnitedHealthcare CEO Brian Thompson a year ago and has pleaded not guilty.

Manhattan

New evidence introduced in Luigi Mangione case

The EU antitrust enforcer has opened an investigation into the U.S. tech giant over its use of online content to power its AI services, a move that threatens to ratchet up transatlantic relations.

Brussels

EU Commission opens probe into Google over AI

The U.S. government said the approval, which comes in exchange for a 25% surcharge, would also be available to other chipmakers like Intel and AMD.

Trump gives Nvidia green light to sell H200 chips to China

Ukraine is set to present a revised peace plan to the United States on Tuesday following President Volodymyr Zelenskiy’s talks in London with the leaders of France, Germany, and Britain.

London

Ukraine to share revised peace plan with U.S., Zelenskiy says

The International Criminal Court Tuesday handed down a sentence of 20 years to a Sudanese militia leader for war crimes and crimes against humanity committed during the country's civil war two decades ago.

ICC sentences Sudan militia chief for crimes against humanity

U.S. President Donald Trump on Monday (December 8) unveiled a $12 billion aid package for American farmers, the latest government effort to shore up a key political constituency hurt by the financial fallout from his trade policies.

Trump unveils $12 billion aid package for farmers hit by trade war

Thailand and Cambodia are blaming one another for starting a deadly exchange of fire that killed at least five people and threatens to unravel a U.S.-backed ceasefire between the neighbouring southeast Asian countries.

Surin

Thailand-Cambodia ceasefire could be unravelling

Paramount Skydance made a hostile takeover bid for Warner Bros. Discovery for $108 billion US just days after Netflix announced it made a $72-billion US deal with the legacy studio. It’s a move that even has U.S. President Donald Trump weighing in.

Hollywood

Paramount launches hostile takeover bid for Warner Bros.

President Trump announced Monday he will allow Nvidia to sell its advanced H200 computer chips to "approved customers" in China, but Mr. Trump said the deal does not include Nvidia's more advanced Blackwell system or its soon-to-be-released Rubin system.

Trump says he's letting Nvidia sell some AI chips to China

Ukraine's European allies put on a show of support for President Volodymyr Zelensky Monday as they expressed scepticism about parts of the U.S. proposal to end the war with Russia. The discussions came after President Donald Trump accused Zelensky of not reading his administration's proposal on a deal to end Russia's invasion following almost four years of war.

Downing Street

European allies back Zelensky after Trump criticism

A powerful 7.5-magnitude earthquake shook northeastern Japan late on Monday (December 8), prompting orders for about 90,000 residents to evacuate and tsunami warnings that hours later were downgraded to advisories.

Aomori

7.5-magnitude earthquake strikes Japan's northeast

Ukrainian President Volodymyr Zelenskiy said on Monday (December 8) that unity between Europe, Ukraine and the U.S. was important when negotiating an end to Russia's war in Ukraine. He made the remark during a visit to London.

Kyiv stresses European unity as allies 'skeptical' of U.S. peace plan

Ukrainian leader Volodymyr Zelenskyy and European allies prepared to hold talks in London on Monday (December 8), after President Donald Trump accused him of not reading the U.S. proposal to end the war with Russia.

Zelenskyy to meet European allies after Trump criticism

Thailand has launched airstrikes on Cambodian military sites as renewed border violence threatens a U.S.-backed peace deal.

Bangkok

Renewed border violence threatens Thai-Cambodia peace

South African authorities have withdrawn a 90-day visa exemption for Palestinians, saying the recent arrival of a charter flight with 153 people onboard was part of a campaign of “forced migration.”

Johannesburg

Middle East Conflict

South Africa withdraws 90-days visa exemption for Palestinians

Chinese and Japanese ties came under further strain after a Chinese fighter aircraft trained fire-control radar on Japanese military jets for the first time.

Okinawa

Chinese fighter jet locks radar on Japan planes

A military coup declared in Benin on Sunday has failed, the country’s interior minister said, just hours after soldiers took over state television to announce the dissolution of government.

Porto-Novo

Benin coup attempt thwarted by soldiers loyal to Republic

Hong Kong's citizens were voting on Sunday in an election where the focus is on turnout, with residents grieving and traumatized after the city's worst fire in nearly 80 years and the authorities scrambling to avoid a broader public backlash.

Hong Kong Island

Hong Kong holds tightly guarded election amid anger over deadly fire

A U.S. envoy says territorial claims remain a sticking point in a proposed peace deal between Russia and Ukraine. The U.S.-led meetings have ended; meanwhile, Russia launched a massive strike on central Ukraine early Sunday.

Kyiv

U.S.-led peace talks wrap as Russia launches strike on Ukraine

Russia targeted Ukraine's energy infrastructure overnight, meaning another winter of power outages for Ukrainians as Vladimir Putin tries to crush their resolve. Holly Williams reports.

Moscow

Russia targets Ukraine's energy infrastructure

Defense Secretary Pete Hegseth doubled down on U.S. military strikes on alleged drug boats, saying President Trump can take decisive military action as he sees fit. Willie James Inman reports on the latest.

Pete Hegseth on boat strikes: "We will find you and we will sink you"

To crackdown on so-called “narcoterrorists”, the US has slowly but steadily been building up its military presence in the Caribbean. 15,000 troops are now stationed in the area, many in Puerto Rico.

Ponce

U.S boosts military presence in Puerto Rico amid Venezuela tensions

Residents in the Indonesian region of Aceh Tamiang have been struggling to get aid while mourning the loss of their loved ones, as the death toll from floods and landslides that hit Sumatra island this month rose to more than 900 people.

Breakdown