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The Texas attorney general has filed a lawsuit against Netflix, alleging the streaming service secretly collected user data without consent, employed a “bait-and-switch” advertising approach, and designed its platform to be addictive. The suit claims these practices constitute unlawful spying on consumers.
Reed Hastings, Netflix’s co-founder and chair, will step down from the company’s board when his term ends in June. He has announced that he will leave the company after 29 years of service. Hastings said he will devote more time to philanthropy and other pursuits.
Donald Trump publicly demanded that Netflix remove board member Susan Rice, warning the streaming service would face “consequences” if it does not comply. Rice, a former official in the Obama and Biden administrations, had recently warned that corporations that “take a knee” to Trump would be held accountable when Democrats regain power.
Netflix revised its bid for Warner Bros. Discovery to an all-cash offer of $27.75 per share, valuing the company at $82.7 billion. The change is intended to speed the acquisition and prevent a hostile takeover by Paramount. The all-cash proposal keeps the total value unchanged from the original bid.