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Netflix Abandons Warner Bros. Buyout, Paving Way For Paramount Takeover

Netflix Abandons Warner Bros. Buyout, Paving Way For Paramount Takeover https://ift.tt/v0EF54t Late last year, Netflix struck a deal with Warner Bros. to purchase most of the company's assets for $82 billion. Now, Netflix has chosen to abandon that deal rather than match the higher offer made by Paramount. That paves the way for Paramount to become the new owner of Warner Bros. Discovery, pending stockholder and regulatory approval. For the better part of two months, Warner Bros. refused to engage with Paramount, which briefly led the latter to file a lawsuit against the rival studio. Earlier this month, Netflix granted Warner Bros. a one-week period to reopen negotiations with Paramount . The Warner Bros. board subsequently decided that Paramount's higher offer was the better deal, and Netflix declined to keep bidding. "We believe we would have been strong stewards of Warner Bros.' iconic brands, and that our deal would have strengthened the entertainment industry...
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Father Of PlayStation Recalls How Everyone At Sony Thought It Would Fail

Father Of PlayStation Recalls How Everyone At Sony Thought It Would Fail https://ift.tt/4hfaGbA

During the early '90s, Ken Kutaragi and Sony attempted to collaborate with Nintendo on an early version of PlayStation, which was intended as a CD drive for the SNES. When that partnership faltered, Kutaragi and Sony moved forward with the original PlayStation in 1994. Although that system ultimately changed the entire video game industry, Kutaragi still recalls the doubters both inside and outside of Sony 25 years later.

"We wanted to share the passion," said Kuturagi at the Tokyo Games Show via VGC. "We wanted to hear their expectations and what they did not expect, so we wanted to hear from them. So we visited dozens of companies if not hundreds, we visited a lot of game makers. It was a great memory. They were not interested. They just said, 'Don't do it. There were multiple companies and none of them were successful. You are going to fail.' That's what they told us."

It's understandable why not everyone shared Kuturagi's passion for the project. When PlayStation entered the market, Nintendo and Sega were the only two dominant console-makers. Sony may have had more powerful hardware than the Genesis, the SNES, or the 32X peripheral, but Sega's Saturn was launching at right around the same time. And if that system had caught on like Sony's PS, then the console wars may have turned out very differently.

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