MOST LARGE-SCALE M&As FAIL TO DELIVER SHAREHOLDER VALUE: Netflix Stock Hits 52-Week Low, Analysts Cut Price Targets, See Warner Bros. Deal as a Drag. “The streaming giant’s fourth-quarter updates included news that it ended 2025 with more than 325 million global paid subscribers, up from 302 million as of the end of 2024. But the company’s financial outlook, especially for profit margins, disappointed.”