Netflix reports internal layoffs and faces stock downgrade while Paramount acquires Warner Bros Studio lot.

The entities involved

• Netflix →

  American subscription video on-demand over-the-top streaming service

  • Mike Tyson promoted his documentary on Netflix by appearing on Andy Cohen's show and discussing his relationship with Sean Combs.10:15
  • Netflix reported strong regional growth in Q2, with Latin America growing 21% and EMEA growing 14%.09:48
• Paramount →

  American record label 1917-1932

  • Paramount's presence outside the U.S. now includes Australia.09:09
  • David Ellison led an $111 billion bid to acquire Paramount as part of a media consolidation package.Mon 09:58
• HSBC →

  British multinational bank

  • HSBC published a report on India's power sector growth, noting increased demand led to higher prices on IEX.09:13
  • HSBC and CITIC Securities adjusted their ratings and price targets for Cisco Systems, Inc. stock, including a reduction in position by 53.5%.00:10

Related events

• Analyst downgrades Netflix stock as YouTube gains increasing viewer share.Sep 22
• Netflix declined a higher bid from rival Paramount concerning the acquisition of Warner Bros. Discovery.Jun 26
• CNBC reported on Netflix's revenue performance against analyst estimates.Sun 01:05
• Reuters reported that Netflix is planning upcoming layoffs.Fri 19:23
• Merger talks are underway between Netflix and Paramount, which is involved in the WBD parent company.Sep 23