The American billionaire Larry Ellison has promised more than $40 billion of his money in support of Paramount to buy rival studio, Warner Bros Discovery. Where does this leave antitrust questions around a Paramount or Netflix takeover? Ed Butler hears from Phillip Berenbroick, who served as chief counsel for the US Senate’s judiciary subcommittee on antitrust matters.

Also, we explore Yiwu, China’s capital of Christmas

(Photo: Paramount, Netflix and Warner Bros logos are seen in this illustration taken December 8, 2025. Credit: REUTERS/Dado Ruvic/Illustration)