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Plus: New reactions from Hollywood, Wall Street and more Friday, February 27, 2026 View in browser   Received this email from a friend? Sign up here. That famous line from "Anchorman" comes to mind today: "Boy, that escalated quickly." But with Netflix and Warner, "that fizzled quickly."   Netflix was in a corporate tug-of-war, and yesterday it suddenly dropped the rope,  catching almost everyone off guard and making Paramount the winner of the WBD bidding war. This special edition of Reliable is focused on what's next:   CNN braces for a new owner Viewers and readers of CNN might be wondering the same thing that CNN employees are asking right now: What will Paramount 's ownership mean?   Answers are in short supply. Paramount has not commented publicly about its victory over Netflix or its intentions for CNN.   Anxieties are running high. It's an esp...