Former TikTok CEO Mayer Weighs In on US Deal, Disney and Warner Bros.

Watch on YouTube ↗  |  January 23, 2026 at 22:09  |  7:07  |  Bloomberg Markets
Speakers
Kevin Mayer — Co-CEO, Candle Media; Former CEO, TikTok

Summary

Kevin Mayer, Candle Media co-CEO and former TikTok CEO, discusses the US TikTok deal, saying it resolves security concerns and should leave the user experience largely unchanged. He also weighs in on Disney's CEO succession, saying either Josh D'Amaro or Dana Walden could lead Disney well but the next CEO must embrace social media and short-form storytelling. On Warner Bros. Discovery, Mayer sees strategic rationale for Netflix and urgent scale needs for Paramount, and expects Paramount to raise its bid, possibly to $34-$35.

  • TikTok US deal resolves security concerns and keeps app mostly unchanged.
  • Mayer says Disney's next CEO must be forward-looking; both candidates are excellent.
  • Mayer sees James Gorman running Disney succession process.
  • Netflix has strategic rationale for WBD content and HBO Max.
  • Paramount needs scale as pay-TV declines and streaming is less profitable.
  • Mayer expects Paramount to raise its WBD bid, possibly to $34-$35.
  • WBD bidding contest remains active with final terms expected within a month.
Ideas
Kevin Mayer Co-CEO, Candle Media; Former CEO, TikTok 3:39
Disney needs forward-looking CEO.
Mayer says Disney's next CEO must be forward-looking and lean into social media, short-form storytelling, and changing sports consumption, especially at ESPN. He views both Josh D'Amaro and Dana Walden as excellent candidates, believes James Gorman is running the succession process well, and thinks Disney will be well-served by either and should try to retain both executives, though he does not expect a co-CEO structure.
DIS MED
Kevin Mayer Co-CEO, Candle Media; Former CEO, TikTok 5:51
Netflix-WBD deal has strategic rationale.
Mayer sees a good strategic rationale for Netflix to acquire Warner Bros. Discovery because Netflix would gain permanent access to WBD's content and franchises and could add HBO Max to its subscriber base. He frames this as a strategic fit for Netflix's streaming customers, though it is not a valuation call.
NFLX MED
Kevin Mayer Co-CEO, Candle Media; Former CEO, TikTok 6:09
Paramount urgently needs scale, may raise bid.
Mayer argues Paramount is subscale and urgently needs scale as pay-TV declines and streaming is less profitable than the old ecosystem. He is surprised Paramount has not already raised its bid for Warner Bros. Discovery and expects it will have to increase its offer to stay competitive, with $34-$35 potentially being the level that gets a deal done.
PSKY HIGH
Kevin Mayer Co-CEO, Candle Media; Former CEO, TikTok 6:38
WBD likely gets higher Paramount bid.
Mayer thinks Warner Bros. Discovery is at the center of a competitive takeover fight, with Netflix strategically interested in its content and franchises and Paramount likely forced to raise its bid. He says his gut tells him $34-$35 might be the price that takes it, implying upside to the current bid and a likely higher offer.
WBD HIGH
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This Bloomberg Markets video, published January 23, 2026, features Kevin Mayer discussing DIS, NFLX, PSKY, WBD. 4 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Kevin Mayer  · Tickers: DIS, NFLX, PSKY, WBD