• Paramount's David Ellison wants to buy all of Warner Bros., including its cable networks.
• Ellison also says those cable networks — including CNN — aren't very valuable.
• It's confusing! But it's also a key part of the Paramount vs. Netflix fight over the future of WBD.

The fight between Paramount and Netflix over Warner Bros. Discovery is ultimately about who gets to control HBO and the Warner movie studio.

But the way that fight gets settled is going to involve an unusual side quest: CNN, TNT, the Food Network, and a bunch of other cable networks WBD wants to get rid of. Specifically: What are all of those shrinking cable networks worth?

Which leads us to a pretty weird place: Paramount CEO David Ellison, who wants to buy all of WBD — including its cable networks — is arguing that those cable networks aren't worth very much at all. And Netflix, which doesn't want to buy those cable networks, is implicitly arguing that they're worth much more.

That's because in the Netflix scenario, current WBD shareholders would go through two transactions: First, WBD would spin out its cable networks into a new company, and WBD investors would be given shares in that new company. Then Netflix would buy the remainder of WBD — HBO and the studio — for cash and stock.

Which means Netflix, and WBD executives who have blessed the Netflix offer, will want investors to think the cable networks are valuable. Ellison wants them to think the opposite.

Bloomberg puts it well:

"The lower you value the cable assets, the greater advantage Paramount's bid has. If shareholders believe the cable operations are more highly valued, then Netflix's bid, which assumes they will be spun off, means investors get an overall bigger sum of money."

And here's the actual gap: Ellison says the spin-off is worth about $1 per WBD share — or roughly $2.5 billion, based on WBD's current valuation. Independent analysts think it might be closer to $4 per share — or roughly $10 billion. Paramount and Netflix reps declined to comment; WBD hasn't responded to my request.

What are WBD's cable networks actually worth?

So one side is describing a rounding error, especially when it's part of a deal that could be worth $108 billion. The other is describing, more or less, a midsize media company.

And yes, this is equity value, not enterprise value — this already assumes the spin-off gets saddled with billions of WBD's debt under the Netflix plan. But we're going to focus this conversation on the shares that ultimately end up in a WBD investor's brokerage account.

And if you believe David Ellison and Co., those investors aren't getting much. Because CNN, Turner, and all of the networks formerly owned by Discovery aren't worth much at all.

By way of comparison: In 2023, Bloomberg Intelligence estimated CNN alone was worth $5 billion. And earlier this year, a forensic accountant in a defamation trial said CNN was worth even less in 2023 — a mere $2.3 billion. Now Ellison is saying CNN, plus "premier entertainment, sports and news television brands around the world," as WBD describes the portfolio, is worth $2.5 billion, all-in.

And yes, the cable network industry is a falling knife, which is why many big media companies that own cable networks are trying to ditch them. But are things really that bad?

Maybe. Maybe, using Ellison's math, all of CNN plus a pile of other cable networks — which still generate cash, mind you — are worth about 16 Bari Weisses, based on the reported $150 million he paid for her Free Press site.

Or maybe all of that is worth $10 billion — which means it's still less than 1% of Google. Which feels like a metaphor for the entire media industry in 2025: Even a roomful of famous brands barely registers in a world run by giant software companies.

Somewhere in that $2.5 billion to $10 billion range is the real answer. But the headline is clear: The networks that once held the entire cable bundle together are now garage sale leftovers. Worth something to someone — but a whole lot less than they used to be.

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Fifty-something years ago, Canadian rock band Rush rocked into the ages. The band wasn’t like others during the seventies — they appealed to the fantasy metal nerds searching for epic proportions of progression, made in a different flavor of rock than the sixties, with which to identify. Teenagers were a big driver of their audience base. Some of those awkward teenagers, such as Billy Corgan of the Smashing Pumpkins, later went on to become rock legends in their own right.

Rush has toured over 30 times, with the most recent tour marking 40 years of touring. The R40 Live Tour took place in 2015 and was the last time fans had the opportunity to see them live; the final show was played at the Kia Forum in Inglewood. After the tour closed in 2015, drummer Neil Peart alluded to his desire to retire. It was quiet for a bit. Fans waited years, hoping that this wasn’t the end.

As it turns out, the band has decided to go on one more tour after all, embarking on a reunion tour in memory of their late bandmate, Peart. Announced as the band's big farewell, the 2026 series is called their Fifty Something tour, and I've broken down how to score Rush tickets below. Keep scrolling to find the information on how you can catch your last chance to see them rock out their final notes before their official retirement, with leads on tickets via StubHub and VividSeats.

• See more: Is StubHub legit? | Kenny Chesney tickets | Eagles tickets | Bon Jovi tickets | AC/DC tickets | Iron Maiden tickets | Morrissey tickets | Dolly Parton tickets

Rush’s 2026 tour schedule

Rush is going to be all over the United States for the bulk of their tour. They are starting their show tour in the same venue and place that they played last: in Los Angeles’s Kia Forum, located in Inglewood, California.

Over the course of the tour, they will be visiting 24 cities across the United States, Canada, and Mexico. They’ll be touring major venues like New York’s famed Madison Square Garden, Los Angeles’s Kia Forum, and Chicago’s United Center. We’ve separated things out for you in the US and outside in the charts below.

North America

International

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How to buy tickets for Rush’s 2026 concert tour

Folks seeking to buy tickets have a lot of opportunities to do so for several of the shows, although some are selling out fast. Some shows have either completely sold out or have very limited options for available tickets. Remember: this is the first tour that they’ve had in a decade and is said to be the last the band will ever do.

They have two shows that aren’t connected to the tour scheduled in Glendale, Arizona, at the end of this year. The first of those two shows has already sold out. Only 1% of tickets were remaining shortly after they went up on StubHub. They aren’t even available on Ticketmaster either.

If you visit Ticketmaster seeking original tickets, you’re met with a notice stating that tickets are either extremely limited or only available through verified resellers. Fans (and resellers looking to get their hands on a bag) are grabbing tickets quickly. This will make getting tickets competitive.

How much are tickets?

The July 17th Chicago show’s tickets are the most expensive to try to snag on StubHub of the tour. (The same date isn’t even available on VividSeats.) They are priced at over a grand for the lowest-priced tickets. This makes so much sense to me as a kid born in the Chicago suburbs who grew up with my dad and cousin Kevin playing Rush. If I had the cheddar to go to one of those shows with my pa & my cousin, I’d be mighty tempted personally. The band has some serious old-school Midwest dad-rock fanfare that you don’t need to be “Fifty Something” to appreciate.

The other most expensive cheap tickets are just under a grand for the December 3rd show at the end of this year. These are currently only available on StubHub. Overall, more ticket dates appear to be available on StubHub compared to VividSeats.

There are also some impressive VIP packages available, if you can secure them and afford them. VIP packages are listed on Rush’s website. There are multiple levels of VIP packages potentially up for grabs. Each level unlocks fan experiences from direct meet and greets and photo ops for the ‘gram, special VIP only merch, autographs, behind-the-scenes tour, great seats, and of course, drinks and networking with fans before the masses who paid for general admission or regular tickets get in.

I peeked at the site to see how much an available VIP package would cost if someone were to go to one of the Los Angeles shows, and, well, it’s pretty expensive. Their lowest VIP package seats were $840 on Ticketmaster. Their second-tier VIP package seats, located four rows from the stage and including a hotel package stay, concert, and assorted goodies, were $2,256 each before taxes.

Who is opening for Rush’s tour?

Rush is doing their own thing and owning the stage for their final bow. They are, however, supported with this by a moderately younger drummer than the rest of the Rush crew. Forty-two-year-old Anika Nilles is from Germany and has previously played with the late English musician Jeff Beck. She will be rocking the drums, channelling the musical stylings of Neil Peart in his absence.

Will there be international tour dates?

Folks seeking to see Rush play live outside the United States will have limited options on where to see them. The band is currently scheduled to perform only in Canada and Mexico. The bulk of their international shows are in Canada, which makes perfect sense given the band’s origins.

There are no shows scheduled in Europe or other international countries and continents. The tour dates all take place in the North American region.

The number of international appearance locations is extremely limited. Only two of the band’s tour dates are happening in Mexico. The remaining 10 international tour dates are scheduled in select cities across Canada.

Who are the Rush band members?

Rush is composed of two current main members: guitarist Alex Lifeson and lead vocalist Geddy Lee. Lee also does bass and keyboard work for the band. The third member of the original band was the late Neil Peart, who died in 2020. Lee and Lifeson have elected to tap German drummer Anika Nilles to step in for Peart during this tribute farewell tour.

Where can I buy Rush band merch?

Folks interested in purchasing Rush merchandise can find a variety of items on Rush’s official website. If you’re thinking about what to get your Rush-loving relative or the dad rock-loving hipster some Rush schwag, there are a bunch of options. They offer a wide range of merchandise, including copies of their music on vinyl, books, T-shirts, glasses, beanies, and more. There’s even a Rush baseball on there. When you go to their site, you’ll see that they are set up for the holidays with sales now too, so you might want to “rush” over there and check it out if that’s your groove.

• The Fed cut its benchmark interest rate by 25 basis points on Wednesday.
• The meeting featured the most dissent among officials since 2019.
• Here are the top takeaways from the latest Fed decision.

The Fed cut interest rates for the third time this year on Wednesday, and the meeting held some key takeaways for how the central bank is thinking about the economy heading into 2026.

From the labor market to inflation to stocks, here's everything to know about the latest Fed decision.

Job market

Fed leaders anticipate more economic growth in 2026 and stable unemployment levels, but are somewhat concerned about slowing labor demand and participation. Lower rates could help juice hiring, Powell said.

In terms of AI, the Fed chair said chatbots are not yet replacing jobs — even as Corporate America sees shrinking while collar roles. "It's part of the story, but it's not a big part of the story yet," he said. And, though some Big Tech firms and major retailers, have had high-profile cuts in 2025, Powell added that overall layoff rates are still relatively low.

Inflation

The figure remains slightly above the Fed's 2% goal, though data is limited due to the government shutdown. With lower rates, there's a risk consumer prices will rise too. At the same time, Powell said consumer spending has been strong and the main driver of inflation right now is tariff policy, not broad economic weakness.

Markets

It was a hawkish rate cut overall, but markets rallied sharply anyway.

The S&P 500 edged up to a near-record close and the Dow jump almost 500 points, adding to gains as Powell's press conference got going. A few things came out of the meeting that boosted investors' bullishness.

• The Fed's purchases of short-dated bonds should help keep a lid on yields and boost the appeal of equities.
• Powell indicated that a rate hike isn't the base case in the foreseeable future. Markets have been sensitive to how inflation could impact the outlook for rates, and investors welcomed the Fed chief's view.
• Emphasis on the labor market hinted that, despite dissent among Fed officials, the focus would remain on strengthening the economy rather than fighting inflation.

Future of the Fed

With Powell's term up in May, Trump is set to name a successor in January.

"I really want to turn this job over to whoever replaces me with the economy in really good shape," he said. "I want inflation to be back down to 2% and I want the labor market to be strong — that's what I want. All of my efforts are to get to that place."

Members of the Federal Open Market Committee showed significant division on Wednesday, with three members dissenting to the cut call. It's the biggest split seen at a Fed meeting since 2019 and signals ongoing tension between the Fed's dual mandate and how each member weighs employment and inflation risks.

Powell, however, said there's no bad blood.

"The discussions we have are as good as any we've had in my 14 years at the Fed," he said. "They're very thoughtful and respectful and people have strong views

• Netflix and Paramount are battling to acquire Warner Bros. Discovery.
• Social media users are posting memes about the high-stakes Hollywood bidding war.
• The merger could impact streaming prices, content output, and jobs in the entertainment industry.

The Hollywood bidding war between Paramount Skydance and Netflix has created a meme frenzy.

The two media giants are in an all-out battle for Warner Bros. Discovery after it accepted Netflix's offer to acquire its studio and streaming businesses for an equity value of $72 billion. David Ellison's Paramount launched a hostile $30-per-share bid for all of WBD on Monday.

Warner Bros. Discovery owns the Warner Bros. film studio, HBO, the HBO Max streaming service, and TV networks such as CNN, TNT, and TruTV. It confirmed receipt of Paramount's unsolicited offer on Monday.

Both entities have made their cases on why they'd be the best owner for WBD. Although internet comedians don't have a say in where the deals land, it hasn't stopped them from weighing in with viral jokes about the dueling companies and their quest to acquire WBD.

Some social media users are poking fun at the back-and-forth with memes about how far each company is willing to go to gain WBD's favor. One post compared the battle for the best offer to a scene from the HBO business drama "Succession," a title Netflix would own if the deal goes through.

The Instagram meme account Litquidity used parody images that appeared to be AI-created of two business leaders speaking at the DealBook Summit to mock how each company is trying to prove its offer is better.

Some people seem to be using humor to cope with the idea of more consolidation in Hollywood. They are pushing back on both offers with memes about stopping the looming acquisition completely.

"I'm putting together a team to fight the Netflix Warner Bros merger," one X user captioned a compilation video of various actors and famous filmmakers.

Others speculated on what the movie-watching experience could be like under Warner Bros. Discovery's new ownership. One TikTok video showed a man sitting down to watch a movie, only for the intros to include a confusing mix of studios, backers such as Saudi Arabia's Public Investment Fund, and even a DJ, being played before the movie began.

In the midst of all the jokes, Netflix argues that its offer would be better for consumers and creators, while Ellison says Paramount is more likely to win regulatory approval and offers Hollywood more certainty.

What all of this means in the long run is unclear so far. It could lead to job cuts in the entertainment industry as the giants consolidate their power. The trends of streaming services getting pricier and fewer movies hitting theaters could also continue, as companies release less content, Business Insider previously reported.

Either way — as with many serious big business deals — consumers and industry insiders are finding ways to laugh through it.

• Data from Strava and AllTrails found that hiking clubs became more popular in 2025.
• Hiking clubs grew in 2025, and National Parks attendance broke a record in 2024.
• Hiking and walking groups can feel more low-key and accessible than run clubs.

The run clubs that took off in the past few years were outpaced by hiking.

That's according to new data from Strava, a fitness tracking app, and AllTrails, a hiking navigation app.

Strava's end-of-year report, analyzing data from over 30,000 users, found that hiking clubs grew sixfold in 2025 — nearly double the pace of run clubs. In 2025, AllTrails saw a 20% increase in users (i.e., people who created an account on the app) to 90 million.

Online, you can find hiking clubs for seemingly every preference, whether you're a creative in LA looking for a morning workout, a woman who doesn't want to hike alone in North Carolina, or a "hot girl" on the hunt for new travel companions.

While run clubs are still popular, hiking and walking have an advantage: simplicity. They offer similar health benefits and social perks — without requiring the same stamina or potentially pricey gear.

A pandemic trend that keeps peaking

COVID lockdowns famously drew people to the outdoors, whether they joined run clubs or sought out nearby hikes.

And then there were National Parks, which experienced a surge of visitors since 2020 during the pandemic — and don't seem to be losing their allure. According to the National Parks visitation data, 2024 broke the record for the highest number of visitors of all time at over 331 million, a 28% increase since 2020.

Five years after the pandemic, National Parks continue to be popular destinations. "When you start looking at that number as feet on the trail, bodies in the visitor's center, cars on the road, you see that the parks have exploded," Jason Frye, a hiking writer who most recently published a National Parks guidebook, told Business Insider. Strava reported that hiking was the second most popular reason for traveling, behind winter sports.

Carly Smith, chief marketing officer for AllTrails, said its data shows many hikers search for locations over 200 miles from their home. "So we know that people are using us for planning travel and then for navigating and exploring National Parks and other destinations," she said.

Smith believes part of the reason hiking and National Parks continue to be hot is that, for many, life still hasn't changed all that much since the peak-remote work pandemic years. "There are more people working remotely than there were in the past," she said. "Hiking clubs in particular can give people a good sense of community in ways that maybe they aren't finding in other parts of their life."

A more approachable workout

Running isn't the cardio workout for everyone. It's also not the only — or best — way to burn fat.

While sprinting at a very fast pace (zone 4 or zone 5) is great for your heart health, it consumes more carbs than fat compared to a brisk walk or light jog.

Hiking long distances with a heavy backpack can help hit two goals: shedding fat while building muscle.

That's partly why rucking, or walking with weights, became a buzzy fitness trend last year. We saw a boom in networking events where people chat shop while breaking a sweat.

Price-wise, hiking, rucking, and walking also more financially accessible than joining a luxury gym. Weighted vests, the walking accessories du jour, cost about $30-$40 on Amazon — though a backpack from GoRuck, one of the biggest players in this space, starts at $115.

Plus, in many cases, hiking and walking can be interchangeable: not all hikes have to be strenuous to count, making them less physically and financially daunting.

Frye, who lives in Wilmington, North Carolina, near Great Smoky Mountains National Park, said there are many hiking trails nearby that are "really walks in the woods more than true hikes."

"You can hop out of the car and do it in your flip flops from most of them," he said — no high-tech gear needed.

Yearning for low-stakes socializing

According to Strava's report, walking was the second-most tracked activity in 2025, after running. Along with hiking, both activities can feel like a more low-stakes group activity than a seven-mile run.

Jonathan Jacobs, who started a men's walking group in LA this year, previously told Business Insider that the accessibility of walking made newcomers more likely to show up.

"Men who come to the walks repeatedly tell me that the low barrier to entry — no need to sign up or pay a fee to join — makes it easier for them to commit," he said.

City dwellers who partook in walking Manhattan from "tip to tip" — another popular TikTok trend of the year — also cited it as a memorable (but still low-key) experience with their friends.

Frye believes the hiking hype is all part of the same phenomenon behind the renewed interest in dumb phones and old-school activities like pickling and crocheting.

"There seems to be this cultural shift, away from the digital and more toward the analog," he said. "We're looking at these ways to return to easier things, and it doesn't get much easier than hiking."