Season one

All episodes

One deal per episode, every other week. The first three arrive November 13. Each episode page has the deal card, chapters, the takeaway, every source and the full transcript.

  1. 01Nov 13, 2026

    M&A · 2025–26

    Paramount / Warner Bros. Discovery: the $40 billion signature

    Takeaway: In a contested deal, certainty beats price until both sides are fully funded. Then price decides it.
  2. 02Nov 13, 2026

    M&A · 2009 · Coming soon

    Disney / Marvel: buying an IP library with holes in it

    Takeaway: When the asset comes with licenses attached, price what you control, and value what you can buy back as an option.

  3. 03Nov 13, 2026

    M&A · 2012 · Coming soon

    Facebook / Instagram: the billion-dollar weekend

    Takeaway: Paying in stock shares the risk with the seller, and the best deals are often defensive.

  4. 04Coming up

    Buyout · 2007 Coming up

    Blackstone / Hilton: bought at the top

    Takeaway: Buying at the top isn't fatal. Running out of time on your debt is.

New episodes every other week after launch. Get each one by email →