FACEBOOK, AMAZON, NETFLIX, GOOGLE the four FANG stocks are all under pressure including NETFLIX. But they are not the only media stocks. Time Warner is trading at 20 per cent discount to the AT and T offer which will not be approved by a Clinton Administration unless Bill and the Democrats can find a way to make money out of the deal in which case there is $18 dollars a share arbitrage profit for $9 dollars downside to where Time Warner was trading before the offer. But what about deals elsewhere? T Mobile, Disney, Viacom, CBS, Comcast and Verizon ( not Fox with the Murdoch moat). The most possible deal is CBS and Viacom. Mario Gabelli owns both stocks. The struggling Viacom could be the acquirer and CBS gets a premium. Here is the scorecard for the last 12 months: Sprint up 40 pct T Mobile up 29 pct CBS up 20 pct At and T up 12 pct Netflix up 10 pct Verizon up 4 pct Comcast up 2 pct Disney down 18 pct Viacom down 21 pct Disney has great entertainment and needs the widespread distribution like Netflix. For value investors Disney satisfies all of Buffett's investment criteria except perhaps for EPS growth over five years which has been about 20 pct.