alt Hacker NewsThis is the same as acquiring the Washington Post or Twitter, right? It's more about media control than any classic business case.
Once you start meddling with the money machine it's not just Net Profit = Revenue – All Expenses (COGS + Operating Expenses + Interest + Taxes)
Netflix's deal included spinning off the news networks. If the Ellisons just wanted that, they could have had that for a considerably more digestible price point. They genuinely want Harry Potter and the Sopranos, too.