Instead, Netflix walks away with a $2.8 billion termination fee, which has been paid by WBD’s new presumptive owner: Paramount Skydance, David Ellison’s company, which encompasses a streaming service, production studios, and several TV networks. The corporation will end up spending $111 billion on the takeover. Paramount initially lost out to Netflix, but finally triumphed after a harried campaign of ever-increasing bids, political gamesmanship, and financial assurances provided by Ellison’s father, Larry, who is the sixth-richest person in the world. That President Trump seemed to favor Ellison in the bidding war may also have helped. (Sarandos visited White House staffers the day that Netflix decided to pull its offer, but reportedly not the president.) Ellison’s desire to purchase the entirety of WBD—CNN included—must have been particularly appealing to Trump, who has said it is “imperative” that the news network be sold.