Daily 9/23: Paramount-Warner Bros. merger, Netflix's YouTube threat, and Kakao's Tapas shutdown

Paramount clears a major antitrust hurdle in its Warner Bros. Discovery acquisition, Netflix faces a growing YouTube challenge, and Kakao Entertainment restructures its webtoon business around Korea and owned IP.

• [WION] Paramount clears a major antitrust hurdle in its $110 billion Warner Bros. Discovery acquisition ↗

  Paramount reached settlements with 12 US states, removing a major legal obstacle to its proposed $110 billion acquisition of Warner Bros. Discovery. If completed, the transaction would reshape competition across film production, theatrical distribution, cable, and streaming at the same time. The settlements include concessions intended to address state-level concerns about the deal. The next test is whether the remaining regulatory process allows the combination of two major Hollywood businesses to close.

• [TradingView] Netflix's falling viewing share puts the YouTube threat in focus ↗

  HSBC downgraded Netflix, arguing that YouTube's viewing scale and creator ecosystem are becoming a larger competitive threat. The analysis also said Netflix's viewing share had fallen to a multi-year low. YouTube combines user-supplied programming with a creator system that continually brings in new audiences, creating pressure different from the competition among traditional streaming services. The assessment reinforces that Netflix is competing for attention against creator video platforms, not only against other subscription streamers.

• [MoneyToday] Kakao Entertainment moves to shut down Tapas after a 1.1 trillion won investment ↗

  Kakao Entertainment is moving to wind down Tapas, its North American webtoon platform, and consolidate its story platforms around KakaoPage. The company invested roughly 1.1 trillion won in Tapas, but is shifting away from direct overseas platform expansion toward a Korea-centered platform strategy and broader use of its owned IP. Kakao Webtoon and KakaoPage are also set to be consolidated, with about 16,000 IP assets gathered around KakaoPage. The restructuring prioritizes the efficiency of extending IP across formats and services over maintaining a separate overseas platform.