Odysseus and his intrepid crew sailed through Comcast’s latest quarter as Universal surpassed $5 billion at the global box office.

Netflix lowered its fourth-quarter revenue guidance to $13.4 billion. It also cut its 2026 advertising revenue outlook to $2.7 billion.

Gerry Cardinale, a Paramount board member and a chief architect of its merger with Warner Bros. Discovery, said most of the $6 billion in expected cost savings will not come from layoffs. Speaking at a Bloomberg conference, he said the bulk of the savings are expected to come from consolidating nonlabor costs such as real estate and other overhead. The $110 billion transaction is expected to close Tuesday after a lengthy legal fight and more than a year of negotiations.

Paramount on Monday began marketing $44.4 billion of debt to finance its acquisition of Warner Bros. Discovery, including about $32 billion of investment-grade bonds, the equivalent of $12.4 billion in high-yield bonds, and a $7.5 billion seven-year loan. The broader financing package totals $51.9 billion. The only remaining obstacle is approval by a federal judge of a proposed settlement in an antitrust lawsuit brought by 12 state attorneys general.

The U.S. Federal Communications Commission has approved the foreign-investment review tied to Paramount’s proposed merger with Warner Bros. Discovery. Paramount disclosed that foreign ownership of the combined company would be 49.5%, including 38.5% from investment funds from Saudi Arabia, Qatar and Abu Dhabi. The FCC’s ruling adds conditions requiring permission if aggregate foreign voting interests exceed 25%. Paramount said that after closing, the Ellison family and RedBird will hold the largest equity stake and 100% of the voting shares, leaving other equity holders without governance rights.

Paramount and Warner Bros Discovery’s $110 billion merger is facing an antitrust lawsuit filed jointly by 11 U.S. states. Paramount has sought a $1.88 billion bond to cover a daily “ticking fee” during the litigation that could total $635 million per quarter and be paid directly to WBD shareholders. The combined company has projected $6 billion in cost savings that are expected to come in part from layoffs. Hearings and court-ordered settlement meetings are scheduled in the coming weeks.

A U.S. judge ordered Paramount and the state attorneys general seeking to block its merger with Warner Bros. Discovery to attend a two-day settlement conference on Oct. 14–15. California Attorney General Rob Bonta previously canceled a scheduled meeting after accusing Paramount of leaking details from an earlier discussion, an allegation the company denied. Under the merger agreement, Paramount would owe a $7 million-a-day ticking fee starting Oct. 1 if the deal has not closed. The court will also hold a Sept. 24 hearing on Paramount’s bid to require plaintiffs to post a $1.88 billion bond tied to that fee.

The U.S. Supreme Court has given California Attorney General Rob Bonta and 11 other Democratic-state attorneys general two weeks to respond to Iowa and Montana’s challenge to their lawsuit aimed at blocking the $111 billion Paramount–WBD merger. The deadline lands as the blue-state coalition is set to oppose Paramount’s request for a $1.88 billion bond before a federal judge in Oakland. It also comes just days before a $7 million-per-day ticking fee to Warner Bros. Discovery shareholders is scheduled to take effect, according to Deadline.

Apple executive John Ternus made his first appearance as CEO at the company’s annual product event, unveiling the foldable iPhone Duo and the iPhone 18. The iPhone Duo’s unfolded display is 80% larger than the current Pro model and 50% larger than the Max edition, and it carries a $1,999 price tag with preorders opening on October 16. Ternus took over as CEO on September 1, succeeding Tim Cook, who moved to become EVP of the Apple board. Apple said the iPhone 18 is designed to pair AI features with a user’s personal context.