Greetings N2K reader!

This week’s world famous news haiku competition™ is about the New York Times taking the Pentagon to court in a battle over the First Amendment. Send me your entry — to our spiffy new email address, haiku at cheddar dot com — by noon ET today for consideration by your Cheddar peers! And now for something completely different!

—Matt Davis, Need2Know Chedditor

News You Need2Know

• Paramount launches $102B hostile Netflix bid

• $12 billion farm aid package amid tariff-driven st …

• Musk attacks EU after X fined $140 million

• What to know about changes to Disney parks’ disabi …

• Swing-district Republicans brace for political fal …

• Poll of the day: Health care subsidy concerns

• Poll of the day: Michael Caine is scary in it, to …

• Don’t miss the Sunset gift guide!

What’s the stock market up to, eh?

$SPX ( ▼ 0.35% ) $DJI ( ▼ 0.45% ) $NDX ( ▼ 0.14% )

Companies mentioned in today’s newsletter

$NFLX ( ▼ 3.44% )  $WBD ( ▲ 4.41% )  $PSKY ( ▲ 9.02% )  $DIS ( ▲ 2.21% )  

Paramount launches $102B hostile Netflix bid

President Donald Trump has cast doubt on Netflix’s $NFLX ( ▼ 3.44% ) tentative $72 billion acquisition of Warner Bros. Discovery $WBD ( ▲ 4.41% ) , signaling federal headwinds just as Paramount Skydance $PSKY ( ▲ 9.02% ) launches a massive, politically charged counter-offer.

Speaking from the Kennedy Center Honors on Sunday, President Trump warned that Netflix’s plan to acquire the Hollywood giant “could be a problem” due to antitrust concerns. “They have a very big market share,” Trump noted, adding ominously, “I’ll be involved in that decision.”

Hours later, Paramount Skydance, led by CEO David Ellison, formally launched a hostile, all-cash bid of $30 per share for Warner Bros. Discovery — valuing the company at $108.4 billion. Unlike Netflix’s proposal, which would split the company and spin off assets like CNN, Paramount is offering to buy the entire entity. Ellison, the son of Trump megadonor Larry Ellison, argues his offer provides “superior value” and a clearer regulatory path than Netflix’s complex cash-and-stock deal.

The battle has taken a sharp political turn with the revelation that Affinity Partners, the private equity firm led by Trump’s son-in-law Jared Kushner, is backing Paramount’s bid. According to regulatory filings reported by Axios, Kushner’s firm joined a financing coalition that includes sovereign wealth funds from Saudi Arabia, Abu Dhabi, and Qatar.

The timing of Trump’s comments — criticizing the Netflix deal just as a bid backed by his family and allies materialized — has sparked intense scrutiny. While Netflix CEO Ted Sarandos recently met with Trump in hopes of smoothing the path, the administration’s skepticism may tilt the scales.

Song of the Day: Nick Cave and the Bad Seeds, ‘Wild God, Live God’

Taken from the band’s recent live album, “Live God,” this track, “Wild God,” finds Nick Cave blending his signature dark intensity with newfound hope, exploring spiritual themes through soaring gospel, orchestral textures, and pop-infused sounds, with critics praising its emotional depth and renewed energy. It’s not exactly background music.

$12 billion farm aid package amid tariff-driven strain

Donald Trump’s administration is offering a $12 billion aid package to struggling farmers, presenting it as a grand solution to shield them from the economic fallout of a trade war he (checks notes) started with the tariffs. The announcement touts the aid as a lifeline for farmers contending with rising costs and a chaotic market, but it’s a chaos that stems directly from Trump’s tariffs and trade policies.

The tariffs were big, bold headlines designed to “stick it to China.” What followed were months of stagnation in agricultural exports, particularly soybeans, which previously made up a critical share of U.S. trade. American farmers endured financial distress as China retaliated, halting purchases of their crops and looking to other nations, like Argentina, for supply instead. Estimates of the loss range from $5 billion to $44 billion. Now Washington is handing out “relief checks” to the farmers it left hanging, funded by tariff revenues.

Trump claims “this relief will provide much-needed certainty to farmers.” But many say they long for the certainty they felt before the tariffs were introduced in the first place.

Quote of the Day

Musk attacks EU after X fined $140 million

Tensions between Elon Musk, U.S. officials, and the European Union have heated up following the E.U.’s issuance of a $140 million fine against Musk’s social media platform, X (formerly Twitter) for breaches of the Digital Services Act, citing “deceptive” designs for verified accounts, a lack of transparency, and failure to provide researchers access to public data.

Musk’s response has been nothing short of fiery. He described the fine as “bulls***” on X and called for the abolition of the E.U., advocating for the return of sovereignty to member states. “Governments can better represent their people,” Musk wrote.

U.S. officials quickly rallied behind Musk, framing the fine as an attack on American tech companies and free speech. Secretary of State Marco Rubio declared, “The European Commission’s $140 million fine isn’t just an attack on X, it’s an attack on all American tech platforms and the American people.” Similarly, FCC Chairman Brendan Carr said the fine targeted X simply “for being a successful U.S. tech company.”

E.U. officials, however, defended the new regulations. Tech chief Henna Virkkunen stressed, “We are not here to impose the highest fines… if you comply with our rules, you don’t get the fine.”

The fine represents 0.035% of Elon Musk’s net worth of $400 billion, or the equivalent of a parking ticket for most Americans. I think it’s also fair to describe a parking ticket as an attack not just on me but on all cars, and on the American people.

Should you check your 401(k) today?

👎️ 

No they fell back a tad yesterday.

What to know about changes to Disney parks’ disability policies

It seems the days of my being able to describe my wife as my “emotional support animal” to skip the line at Disney World may be a thing of the past.

Disney's recent changes to its Disability Access Service program have drawn criticism from disabled visitors and advocates who say the policies are too restrictive. The DAS program, which allows qualifying individuals and their families to skip long standby lines through expedited reservations, underwent changes to address past abuses but has left some feeling excluded.

Shannon Bonadurer, a Michigan travel adviser and Disney fan, says the new rules leave many people with disabilities without proper accommodations. Bonadurer, who uses an ileostomy bag, was denied a DAS pass, along with her blind son who also has cerebral palsy and autism. “They are making a determination about whether you’re disabled enough,” Bonadurer said. “I would love to wait in line with everyone else, and so would my son... But unfortunately for us, we need adaptations to how we wait.”

Disney’s policy changes limit DAS eligibility to people with developmental disabilities who cannot endure long lines. The system now requires video interviews with Disney workers and contracted medical professionals, a move Disney says is necessary due to a surge in DAS usage, which increased fourfold.

While Disney insists the changes are in compliance with the Americans with Disabilities Act, advocates argue the policies make it harder for some disabled individuals to access accommodations, prompting legal challenges and a shareholder proposal for an independent review.

Swing-district Republicans brace for political fallout if health care subsidies expire

Republican lawmakers in swing districts are grappling with the potential for political and economic fallout as enhanced Affordable Care Act subsidies are set to expire by December 31. These subsidies, which have helped lower premiums for millions of Americans, could create major challenges for Republicans in the upcoming 2026 midterm elections, where voters’ wallets will likely dictate the conversation.

U.S. Rep. Ryan Mackenzie (R-Pa.), whose district saw one of the narrowest victories in the 2024 election, emphasized the urgency of action. “Even if you have a broken system, that doesn’t mean that you shouldn’t provide or offer relief to individuals who are dealing with those high costs right now,” he told the Associated Press, advocating for a last-minute bipartisan compromise.

Still, entrenched GOP resistance to ACA reforms leaves efforts like Mackenzie’s at risk. Some Republicans, including Rep. Kevin Kiley (R-Calif.), have proposed temporary extensions with reforms, sharing concerns that millions will face premiums doubling in price. “The current system isn’t working, but there’s no time to make systematic reforms before suddenly millions of Americans pay double,” Kiley said.

Democrats are framing their 2026 campaigns around affordability and rising costs. “The number one issue across the country is affordability, and health care is a key part of that,” said Rep. Suzan DelBene (D-Wash.). Voters facing surging premiums, like Lynn Weidner of Pennsylvania, say the situation is “stressful” and pushes them into difficult financial decisions.

Poll of the day: Health care subsidy concerns

Poll of the day: Michael Caine is scary in it, to be fair

We asked: Which is your favorite film noir?

You answered:

🟨🟨🟨⬜️⬜️⬜️ Sunset Boulevard (68)

🟨🟨🟨⬜️⬜️⬜️ Chinatown (89)

🟨🟨⬜️⬜️⬜️⬜️ The Postman Always Rings Twice (49)

⬜️⬜️⬜️⬜️⬜️⬜️ Touch of Evil (8)

🟨⬜️⬜️⬜️⬜️⬜️ Double Indemnity (41)

🟨🟨🟨🟨🟨⬜️ The Maltese Falcon (121)

🟩🟩🟩🟩🟩🟩 A Muppet Christmas Carol (139) 

515 Votes via @beehiiv polls

Don’t miss the Sunset gift guide!

Need the perfect gift? Or even a pretty good one? Sunset’s 2025 Holiday Gift Guide has you covered! With beautifully curated selections, there’s something for everyone on your list. Cozy up in the luxurious Flock Robe ($165) or add charm to any table with the Otto Napkin ($20). For the chefs, the Little Zipper Pot Holder ($35) is as stylish as it is practical. Nature lovers will adore the Case Study® Ceramics Birdhouse ($75) or the stunning Ceramics Small Cylinder with Stand. Want to give experiences? Share joy with the Sunset Box ($69.99) or a subscription to Sunset Magazine ($29.95). Shop now for thoughtful, unique gifts!

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