Santander and BBVA co-finance Netflix’s cash offer with 3.8 billion

Santander and BBVA have doubled their financing to Netflix to $3.8 billion to support the acquisition of Warner Bros. for $27.75 per share in cash. The Spanish bank is thus positioned as a key actor in the most significant consolidation operation for the global audiovisual sector, in the midst of a battle to reconfigure the streaming market. How it works. The financial structure rests on a trio of international banks. Wells Fargo leads the credit union with the highest documented individual commitment for an investment grade acquisition, accompanied by the French BNP Paribas and the British HSBC. Between the three of them they have extended the initial bridge loan up to 42.2 billion dollars. What do the Spanish do? In this context, Santander commits to 2,672 million dollars divided into two blocks: 1,360 million in the bridge loan and 1,312 million in the long-term financing agreed in December. BBVA, for its part, offers 1,088 million: 510 million in the transitional loan and 578 million in the permanent lines. Other entities. Along with the Spanish entities, there are the French Société Générale, the German Commerzbank, the Canadians RBC, Banco de Montreal and Scotiabank, the Japanese Mizuho and MUFG, as well as Morgan Stanley, PNC Bank and Standard Chartered. The union brings together fifteen institutions that share the risk of an operation without comparable precedents in the recent history of the audiovisual industry. The Spanish participation, although secondary compared to Wells Fargo, BNP Paribas and HSBC, consolidates the presence of both entities in the corporate financing segment in the US. Seeking internationalization. The presence of Santander and BBVA in financing Netflix illustrates the internationalization strategy of both entities in large-scale operations linked to technology and media. For example, Santander announced in December 2025 a strategic alliance with MoffettNathanson to strengthen its sector analysis in technology, media and telecommunications (TMT) in the United States. and BBVA closed 2024 with record revenue of 3,194 million euros in the first half of 2025, driven by investment banking and corporate financing operations. All in cash. On January 20, Netflix modified the initial structure of its offer for the purchase, which combined money and shares of the platform. Now, Netflix values ​​the operation at 83,000 million dollars through an all-cash offer of $27.75 per share. Paramount, meanwhile, maintains a hostile offer of 108 billion dollars at $30 per share. Netflix wants exclusively the movie studios and HBO Max, excluding the cable TV business. This division will create an independent company, Discovery Global, which will be listed on the stock exchange and whose shares will be delivered to current Warner shareholders. When will we know something? Warner’s board of directors has rejected Paramount’s proposal eight times, calling it “insufficient value”. Netflix’s offer, on the other hand, has the unanimous support of Warner management. Shareholders must vote by April 2026, according to the accelerated schedule following the conversion of Netflix’s proposal to cash. In Xataka | All the unanswered questions left by Netflix’s purchase of Warner: a huge mess

Buying tickets for Rosalía’s tour has been chaos for everyone. Except for Banco Santander clients

The sale of tickets for the concerts in Madrid and Barcelona Rosalia have generated the expected collapse. An apocalypse of people running out of tickets, waiting at the seventy-something thousand stall in a virtual queue, and a lot of resellers rubbing their hands. We had the precedent of Bad Bunny, but not only have we not learned, but we have made it worse with an exclusive pre-sale that has left those who have approached through the general sale almost without tickets. He ritual than usual. Frozen screens, virtual queues that exceeded 50,000 people and the frustration of thousands of fans who after hours of waiting were left without access to the many seats available for pre-sale last Tuesday the 9th for the eight Rosalía concerts scheduled in Madrid and Barcelona between March and April 2026. Just 48 hours later, the general sale on Thursday the 11th replicated the same scenario, but much faster: all the tickets sold out in a matter of minutes. The immediate result was predictable: platforms resale offering seats for up to 1,200 eurosmore than ten times its original value. The bank account as an entrance to culture. In September 2023, the Banco Santander launched SMusica platform that links financial services with exclusive offers linked to concerts and musical events after close deals with relevant industry brands, such as Live Nation (owner of Ticketmaster), Universal Music, the Los 40 radio network and festivals such as Primavera Sound and Mad Cool. The mechanism is as simple as, in its essence, exclusive: Bank customers get early access to tickets 48 to 72 hours before the rest of the public. In practice, this means that when the general sale opens, most of the best-located seats (and sometimes all the capacity) have already been purchased. For her part, Rosalía simultaneously activated an “Artist Presale” through prior registration on her website. In this way, two privileged channels were generated before the official sale. But… how many tickets went to pre-sale? There are no official public figures. However, an expert (Chema Lamirán, director of the Master in Digital Marketing at the European University of Valencia) provides data about the usual operation of this system: “as a general and ethical rule of the industry, a quota should always be reserved for general sales.” According to their analysis, between 15% and 20% of the total capacity is usually reserved for general sales. But “in phenomena like Rosalía, where demand exceeds supply by 10 or 20 times, that 20% flies in seconds, giving the sensation that there were no tickets.” This would explain why in social networks comments abounded like this one: “They’re making fun of us, they must have sold all the Lux Tour tickets in the pre-sale, otherwise I can’t explain it.” The system also established differentiated limits: a maximum of two tickets per person in the Santander pre-sale compared to four in the general one, which in theory should leave more seats available for the general public, but in practice it barely makes a difference when the demand is so disproportionate. The precedent of Bad Bunny. May 8, 2025 marked a turning point in public perception of the ticketing system in Spain. What began as the announcement of three Bad Bunny concerts ended up becoming twelve dates spread between Barcelona and Madrid, an improvised increase on the fly while the Ticketmaster website collapsed under the weight of hundreds of thousands of simultaneous users. At 12:45, fifteen minutes before the official start of the pre-sale, the platform began to display errors 503 and 500, leaving buyers trapped in a digital limbo where virtual queues exceeded 400,000 people. But the technical chaos It was just one dimension of the problem. The OCU filed a formal complaint before the Ministry of Consumer Affairs after documenting how an entry initially announced at 79.50 euros It ended up costing 269 euros by including management fees (€36.50), “suggested” donations (€3.30) and additional VIP charges (€150). FOMO and banks. The phenomenon of concerts, without a doubt the “place to be” (and one of the few entertainment sectors that not only enters into crisis but also grows without apparent roof), extends its appeal to entities such as banks. The concerts of Rosalía or Bad Bunny are not considered as recitals for fans, but rather as massive events to which one must go, with the music being only a circumstantial element. The essential precedent of Taylor Swift (whose Eras Tour generated in Spain similar episodes of uncontrolled demand) has established a pattern where megaconcerts are perceived as unrepeatable events that banks, always on the hunt for young customers, are willing to take advantage of. In Xataka | Rosalía has entered her Catholic phase: she is only the latest in a long list of Spanish artists and filmmakers

The two most important weather models in the world are discussing whether Santander is going to freeze next week. And the cold is winning

Where has all the cold gone? So far this fall (with the sole exception of Siberia), temperatures have been relatively mild on all continents. And it seems that the situation is going to continue like this: it is true that the forecasts speak of a progressive decrease in temperatures in the southeast of Canada, the eastern United States and northern Europe; but no model paints a scenario that is particularly cold (except some very long term prediction). However, all eyes are on the polar vortex. If the models are right, it is very possible that the vortex will experience an unprecedented disturbance in November, leading to an interesting weather period starting in December. “There is no way this is fulfilled.” While November continues with its strange meteorology, the models draw increasingly strange scenarios. At this point in the week, we cannot rule out that on the 18th and 19th we have a more than considerable winter storm with the ‘beast from the east‘looming over Western Europe. In the next few hours we will have a war between models: The American marks a cold entry on Santander, the European said no. Little by little, the two seem to be converging towards a cold scene. It’s too early to say, but in a very few hours the daisy will be shedding its leaves. Anyway, the central issue is that all of this is minute sin. The breaking of the vortex. Except for that event in the middle of next week, autumn will continue to be very warm and mild on almost all continents. However, this could change if sudden stratospheric warming appears. That is, the vortex breaks. Sudden stratospheric warming? To understand it simply, we have to remember that the atmosphere is a kind of “lasagna of air layers” and each of them follows its own logic. That is, they work quite differently and independently. As far as it affects us: the circulation of air in the troposphere (the one closest to the surface) and the circulation in the stratosphere (the layer directly above) are related, yes; But, in general terms, they each do their own thing. During the “sudden stratospheric warming“, a part of the troposphere warms rapidly and, as a consequence, invades the stratosphere, causing a profound alteration of the circulation at high altitude. That is, for a few days, everything turns upside down. And what happens? The most common consequence of this is that the polar vortex weakens and may break down. The polar (arctic) vortex is a current of air that runs from west to east around the north pole and contains cold air at high latitudes. When this current is strong and stable, preventing it from flowing towards places like Spain. If the vortex It destabilizes and its winds lose strength (due to, for example, “sudden warming”), it is relatively common for cold air masses to escape on their way south. What if it doesn’t break? In reality, the vortex does not even need to break. It only needs to move from the Arctic region to lower latitudes. By moving a huge mass of cold air with it, the result is always very similar: an icy cold that can turn any country upside down (even the best prepared ones). And that seems to be what we are going to see. It’s hard to know if it will affect us or not, but there’s no doubt that the late fall weather is getting “interesting.” Image | Meteociel In Xataka | The last hope of winter in Spain is desperate, but increasingly possible: the breaking of the polar vortex

Google has a new and huge transatlantic underwater cable. One that will connect Santander with the United States

If you are reading this it is because you are connected to the Internet, and if you are connected to the Internet it is because there are on the seabed true highways of huge fiber cables that interconnect the world. Submarine cables are really fascinating and In Spain we have a few. Well today we have to add another: Sol, the new Google transatlantic submarine cable that will connect our country with the United States. From Santander to Florida. Sol will be Google’s second submarine cable that will connect Spain with the United States. It will be, in fact, the only fiber optic cable between Europe and Florida. The cable, which will have 16 pairs of fiber optic cables, will be manufactured in the United States, will connect to the Google Cloud region in South Carolina and will be deployed from Palm Coast, Florida. It will pass through the Bermuda Islands, then it will reach the Azores and, finally, it will land in Santander thanks to the infrastructure provided by The Spanish Telxius. 10 Google applications that could have triumphed Scheme of the Sun and Nuvem cables | Image: Google In detail. This cable will be added to the facilities already available, such as Nuvem, Firmina either Equianto establish connectivity centers in the Atlantic. The idea, they explain from Google, is that Sol and Nuvem complement themselves to “contribute a double transatlantic resilience.” Nuvem is a sun -like cable: it leaves South Carolina, passes through Bermuda and arrives in Europe through Portugal. The idea is to offer two interconnected systems on land to increase the reliability and capacity of the system. That is, provide redundancy and security. So that? According to the company, the objective of displaying this cable is to improve the integration of the Google Cloud Region of Madrid With the entire network, as well as reinforce the global network that, for the moment, is composed of 42 regions. According to Google in a statement issued to media: “(Sun deployment) will help meet the growing demand for Google Cloud and IA services by its customers in Europe, the United States and other regions, adding capacity, increasing reliability and reducing latency for Google users and Google Cloud customers worldwide.” Grace Hopper deployment in 2021 | Image: Google The second Google cable in Spain. France, Ireland, England, Spain and Portugal are, for obvious reasons, the main European ports of submarine cables. In Spain we have some very important as Tide, Andjana and Grace Hopper. Tide is owned by Meta, Telxius and Microsoft, connects Bilbao with Virginia Beach and measures 6,605 kilometers. The Brutal Andjana is owned by Meta, measures 7,121 kilometers, has 24 pairs of fibers, a capacity of 500 Tbps and connects Europe with the United States. Grace Hopper, meanwhile, is the first cable that Google installed on our borders. It is one of the longest: with its 7,191 kilometers, Grace Hopper connects Bilbao with Bellport (United States) and Bude (England). The longest? Although cables such as Sol, Marea, Grace Hopper and company are a prodigy, the reality is that they are not the most impressive. They do not shade in terms of distance to 2AFRICAan international submarine cable surrounding the coast of Africa to connect Europe and the Middle East. It is a mamotreto of 16 pairs of fibers, 180 Tbps of capacity and a length of 45,000 kilometers that connects 46 service stations in 33 countries. It is expected to be finished by the end of this year. Cover image | Government of Spain, Wikipedia In Xataka | Goal already has the tool to lead the AI ​​era: an underwater cable that will take more than one return to the earth

Europe fails to find the perfect solution for cross -border payments. Bizum and Banco Santander have just put it on a tray

Santander has become the first Spanish bank that allows its customers Send Bizum to other European countries. It is something that is achieved thanks to the interoperability between Bizum, Bancomat and MB Waya connection that according to the bank will connect 50 million users and 186 financial entities. It is a first step waiting for a unique pawous solution for which no agreement is reached. The first in Spain. Banco Santander has formalized the possibility of sending money through Bizum in a cross -border way. The agreement has been necessary between different payment solutions such as Bizum (Spain), Bancomat (Italy) and Mbway (Portugal), being limited instant payments to these two countries, for the moment. After performing the corresponding successful pilot tests, the clients of this bank will be the first to be able to pay outside Spain. The method will be the usual: we will only have to write the mobile number of the user to which we want to send the payment, and this will be carried out immediately and without commissions. It will not be alone. Santander has been the first to move token, but the possibility of sending Bizum out of Spain will be a standard before summer. Abanca, OpenBank, Caixabank, BBVA and Banco Sabadell are advancing in the implementation of this service, planned for the second quarter of 2025. It has not been thanks to Europe. While Europe Follow in search of a unique solutionthe private company moves record. Cross -border payments are possible thanks to the European Initiative (European Payments Alliance), a joint project initiated by Bizum and followed by both Bancomat and MB Way, with the aim of adopting instant transfers paneuropeas using existing infrastructure. In other words, it has been necessary for those responsible for the platforms to agree, in the absence of a European alternative that encompasses. The European Bizum. The European Central Bank has been trying to advance in a system of instant payments to interconnect the different member countries. But he doesn’t get it. During the last two years we have seen progress as Free transfers in Europe, Tests with digital purseand brushstrokes on a “European Payment Initiative” which has barely advanced since 2022. Countries like Spain They make 95% of immediate payments with Bizumbut this is not the only name that sounds as a candidate for possible means for European payments. There are those who try strongly. Solutions such as Bizum, Bancomat, BM Way or Swish were born as responses to the national need to be able to pay freely and free. The problem for the EU? None have been thought from scratch as a single payment solution. This is where solutions such as Weroa proposal towards “a unique payment solution, all in one, instantaneous and paneuropea, capable of covering over time all cases of payment that consumers and professionals require.” Banks such as German and French They are already promoting this servicenot yet compatible with solutions like Bizum. Nothing clear. The ECB points out that “instead of combining strength and sharing resources to develop paneuropeas solutions, national communities have often preferred to preserve the legacy of the investments made in the past”, an attack on models such as Bizum and a clear look at proposals such as Wero. With many delays and few proposals on the table, the road to a “European bizum” continues to draw distant. But, meanwhile, in Spain we will not take to pay with virtually any bank outside our borders. In Xataka | Bizum and Finance: What changes in transfers control after eliminating the threshold of 3,000 euros

In 1893 Santander received a ship full of dynamite. Shortly after he had 600 dead and a city razed

His Newcastle (United Kingdom) manufacturers designed him as an ideal ship for cabotage service, but the Cabo Machichaco It has gone down in history for something very different: starring in one of the greatest tragedies of the recent history of Spain, a brutal catastrophe that at the end of the 19th century shook (literally) the city of Santander and left a wake of dead and chaos. In the blink of an eye, he fell hundreds of lives, wounded thousands of peopledamaged dozens buildings and unleashed a deadly metallic rain. And yes, the latter is also literal. There is who holds in fact that it remains the greatest civil catastrophe in the contemporary history of Spain, with a balance of dead, injured and destruction greater than that of the famous Rodeos plane crash occurred in Tenerife almost eight and a half decades later and that ended the life of 583 people. When everything is complicated Cabo Machichaco disaster occurred at the Santander docks November 3, 1893but (as often occurs with misfortunes) to understand their causes you have to go back long and look at other latitudes. First to the Schlesinger Shipyard, Davis & Co of Newcastle, which is where they shaped around 1882 as a vapor with iron helmet of 78.8 meters of length for 10.2 manga. Then to Bilbao, the place where years later, in 1893, he provided cabotage service under the orders of the Sevillian Naviera Ybarra. There, in Bilbao, the crew of Cape Machichaco was found in November 1893 with an unforeseen event that was fully affecting maritime traffic and ended up altering his trip to Santander: A spring of anger. In dessert that small detail would be relevant because the sanitary measures to stop it marked the exit of the ship, forced him to undergo a quarantine upon arriving in Cantabria, where he had to anchor next to the Lazareto de Pedrosa, and (most importantly) marked his load. As Luis Jar Torre recalls in An article About the disaster published in the General Magazine of Marina, The steam was primed with 1,616 tons of loadbetween which bags of flour, wine, paper, tobacco, wood and oil were included, but also materials related to the powerful Biscay siderurgy, including almost 400 bars and floods of iron, tin, pipes, metal cubes and rails. The Cape cocktail completed it 20 glass helmets of sulfuric acid and explosives. Many explosives. To be more precise, Jar Torre speaks of 1,720 dynamite boxes with a gross weight of 51,5400 kilos. “And although the explosive would not go from 43 t it was an amount four times higher to the normal for having lac Navy officer. A small part of that dynamite, about 20 boxes, had Santander destination, but most had to continue towards Seville and Cartagena. They never completed their journey. If the circumstances facilitated that Cabo Machichaco transported more explosives than normal, the laxity of local authorities just facilitated misfortune. Although the Regulation of the Puerto de Santander It forced ships with this type of merchandise to download in remote or anchored docks, with the help of Gabarras, the truth is that the early hours of November 3, 1893, the corporal docked in the center of the Cantabrian capital, at the dock No. 1 of Maliaño. About seven in the morning the ship had already docked, more or less an hour later the operators began to download goods and around noon the works were already well advanced. Except for some punctual problem with some coils, the day He advanced without problemsbut around two o’clock in the afternoon things twisted in a bad way. The reason? The operators realized that the smoke from Bodega Nº2, located just in the bow. It is not known exactly what the fire unleashed. In his day he signed up for a poorly turned off butt, but in 1900 the authorities had not yet reached any firm conclusion and with the passing of the decades other options equally feasible have been considered, such as the breakage of one of the 20 helmets that contained sulfuric acid. What we do know with certainty is that the efforts of the crew to quell the flames They served little. The fire advanced. The smoke became increasingly visible. And everything that could be expected passed: the authorities came, firefighters came, sailors came to lend a hand and a swarm of neighbors and curious attracted by that flame ship in the llast in Santander came. And all this while the fire advanced in a ship crowded with chemical substances, metals and tons of explosives. The chronicles say that among the public stacked on the dock, the rumor that the corporal stored dynamite came to circulate, which led some to move away from the area. But for a short time. Towards mid -afternoon, while the authorities were looking for a way to prevent the ship from going to pique, the operations from land followed about 3,000 curious. Because? Because it is difficult to resist a good show. And because after all, it was true or not that the ship contained explosives, the authorities were still gathered in the area without that it seemed to import much. They trusted that dynamite would be safe as long as there was no detonator. In fact it was not the first ship that burned with a similar load without a deflagration. It had happened years before to another ship very similar to Cape Machichaco, Cabo San Antonio, who also suffered a fire in the sea. That was a mistake. A recklessness. Minutes before five in the afternoon, shortly after they started working in the rivets on the side of the ship, a part of the Cape cargo burst. Big. “It was a kind of shrapnel cannon shot to heaven, with the submerged part of the ship making a cylinder head, its tube sides, mouth and grooves and their projectile load,” Describe Jar Torre. It did not explode the entire dynamite of the wineries, but it was enough to … Read more

Banco Santander will close more than 200 physical offices. It is the most visible symptom of traditional banking metamorphosis

Santander plans the closure of the largest number of offices in Spain from the pandemic. According to Digital economymore than 200 branches will lower the blind this year. The arrival of Ignacio Juliá – a manager with DNA DNA forged in ING – to the direction of Santander Spain is no accident. It is a symptom. Similar to what happens to other Ibex companies – as Telefónica debating between transforming between technology company or assuming the decline as a traditional teleco-, Classic banking has an existential dilemma ahead. On the one hand, Maintain physical offices has become a financial ballast to the Neobancoswhich operate with infinitely lighter and more efficient structures. On the other hand, those same offices They are a competitive advantage for certain demographicparticularly among over 60 years, who concentrate a large part of the financial assets in Spain. Neobancos have gained ground in basic operation and current accounts, but still have important limitations in more complex products, such as mortgages or heritage management. Santander himself has recognized your annual report “The value of the human connection” provided by branches, especially for vulnerable clients, while simultaneously advances towards what defines as “a digital bank with branches”. The Ying and the Yang. Investment management is that space that still has traditional banking to uncheck from the Neobancos, where even the face to face with the manager (the one who gives a branch) can be an incentive for the client. There they face independent platforms, such as Trade Republic or the Spanish Indexa, with increasing traction, better fame … and lower commissions. Of course, they do not usually have exclusive products for large heritage, more complicated land for Fintech. Santander has no urgency for these changes. In 2024 he got a record benefit of more than 12,500 million euros. Your current business model is still profitable. The issue is whether the digitalization strategy combined with selective physical presence will be sufficient to maintain its relevance when the digital generation becomes the main segment with heritage. Traditional bank is not disappearing, but it is in full metamorphosis. It is looking for a balance between digital efficiency and the added value that human interaction provides. In Xataka | The digital counterrevolution reaches the classrooms: seven CCAA backs down with the screens and mark a change of trend Outstanding image | Santander Bank

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