According to @StockMKTNewz, CNBC reports Netflix has reached a cash-and-stock deal to acquire parts of Warner Bros. Discovery, valuing WBD at 27.75 dollars per share and including the film studio and HBO Max. Source: @StockMKTNewz; CNBC. For trading, 27.75 dollars is the provisional takeout reference; monitor WBD’s spot price versus 27.75 to gauge the merger-arbitrage spread and implied completion risk. Source: @StockMKTNewz; U.S. SEC Investor.gov guidance on M&A risks. Watch NFLX for deal-adjusted volatility and potential Nasdaq 100 spillover that can sway broader tech risk tone. Source: Nasdaq. Crypto angle: equity risk-on or risk-off from large-cap tech M&A can feed into BTC and ETH as crypto–stock correlations have risen since 2020. Source: International Monetary Fund. Traders should look for official press releases and Form 8-K filings from the companies to confirm a material definitive agreement before sizing positions. Source: U.S. SEC Form 8-K rules.