Netflix backs out of Warner Bros deal, declines to match Paramount Skydance's raised offer
Netflix has withdrawn its offer to acquire Warner Bros Discovery, declining to match Paramount Skydance's increased offer of $31 per share. Netflix stated that the price required was no longer financially attractive, emphasizing that the deal was a 'nice to have' rather than a 'must have'. Paramount will pay WBD the termination fee owed to Netflix.
- Entities
- Company: Netflix
- Topic: Mergers and Acquisitions
- Company: Skydance
- Topic: Media Industry
- Company: Warner Bros. Discovery
- Company: Paramount
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