Predictions for the media sector in 2026, according to Puck's Belloni

Watch on YouTube ↗  |  January 09, 2026 at 20:33  |  3:52  |  CNBC
Speakers
Matt Belloni — Founding Partner, Puck

Summary

CNBC's Power Lunch team speaks with Matt Belloni of Puck about 2026 media predictions. Belloni focuses on the pending Netflix-Warner Bros. Discovery deal and the likelihood of a prolonged regulatory and bidding process. He also discusses Disney's CEO succession and the strength of Disney's parks division relative to its streaming uncertainty.

  • Matt Belloni predicts the Netflix-Warner Bros. Discovery deal will not be resolved in 2026 and may drag into 2027.
  • Paramount and the Ellison family may raise their bid or sue over the Warner Bros. Discovery deal.
  • Regulatory antitrust challenges could come from the Trump administration or state attorneys general.
  • A completed deal could give Netflix significant market power in premium subscription streaming.
  • Disney's CEO search is a major 2026 event, with speculation about co-CEOs and Dana Walden's future.
  • Disney's parks division is described as strong and propping up the company amid streaming uncertainty.
Ideas
Matt Belloni Founding Partner, Puck 0:49
WBD deal faces long regulatory fight.
Matt Belloni expects the roughly $80 billion Netflix-Warner Bros. Discovery deal for the studio and streaming division to remain unresolved through 2026 and drag into 2027. Paramount and the Ellison family are not going away and may raise their bid or sue, while regulatory review faces possible Trump-administration litigation and state attorney general antitrust challenges; if completed, the deal would eliminate a long-standing Hollywood studio and could give Netflix significant market power in premium subscription streaming.
WBD NFLX HIGH
Matt Belloni Founding Partner, Puck 2:28
Disney parks strong; CEO succession key.
Disney's parks division is firing on all cylinders—Florida parks are packed and extracting more money from customers—and is propping up the rest of the company amid streaming uncertainty. The key 2026 event is CEO succession: Josh D'Amaro is the presumptive favorite, and there is speculation Disney could name co-CEOs with Dana Walden, who is likely to stay even if she does not get the top job.
DIS MED
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This CNBC video, published January 09, 2026, features Matt Belloni discussing WBD, NFLX, DIS. 2 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Matt Belloni  · Tickers: WBD, NFLX, DIS