Netflix walks away from Warner Bros bid, clearing path for Paramount

The streaming giant's co-CEOs Ted Sarandos and Greg Peters said they were 'declining to match' Paramount Skydance's latest offer, which included a purchase price of $31.00 per share in cash, a one-dollar increase from its earlier bid, which valued the company at around $108 billion.

Netflix abandons Warner Bros bid, clearing the way for Paramount

Netflix said Thursday it would not raise its takeover offer for Warner Bros. Discovery, effectively ceding the media giant to a rival bid from Paramount Skydance after deciding the deal was no longer financially attractive. The streaming giant’s co-CEOs Ted Sarandos and Greg Peters said they were “declining to match” Paramount Skydance’s latest offer after Warner Bros. Discovery’s board declared it a “Superior Proposal” under the terms of its existing merger agreement with Netflix. The...

By Agence France-Presse

It's easy to understand why Netflix walked away from WBD

Netflix co-CEO Ted Sarandos visited the White House Thursday afternoon to discuss his company's Warner Bros. bid. Hours later, Netflix walked away from the deal. Andrew Leyden/Getty Images Netflix has never made a giant acquisition. That's why it was surprising that it made an $83 billion bid for Warner Bros. Discovery. But both Netflix shareholders and Republicans hated the deal. Investors didn't want Netflix to buy Warner Bros. Discovery. Republicans didn't want the deal to happen, either...

Netflix declines to raise its offer to buy Warner, says deal is ‘no longer financially attractive’ 

Netflix backs away from its offer to buy Warner Bros Discovery

Netflix stated that a previous offer to buy Warner Bros Discovery's streaming and studio assets was no longer financially attracted after Paramount Skydance revised its offer.