The Damage Report
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Warner Bros. Deal Sparks ALARM Over Disaster CBS Transformation
Posted
February 28, 2026
Views
9,731
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February 28, 2026
9,731
460
65
5.40%
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6:04Now PlayingAfter Netflix backs out of bidding war with Paramount concerns grow over the deal allowing for the same fate as CBS News under Bari Weiss. John Iadarola and Wosny Lambre break it down on The Damage Report. Leave a comment with your thoughts below!
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Netflix Backs Out of Bid for Warner Bros., Paving Way for an Ellison Takeover
"Netflix said on Thursday that it had backed away from its deal to acquire Warner Bros. Discovery, a stunning development that paves the way for the storied Hollywood media giant to end up under the control of a rival bidder, the technology heir David Ellison.
Netflix said that it would not raise its offer to counter a higher bid made earlier this week by Mr. Ellison’s company, Paramount Skydance, adding in a statement that “the deal is no longer financially attractive.”
“This transaction was always a ‘nice to have’ at the right price, not a ‘must have’ at any price,” the Netflix co-chief executives, Ted Sarandos and Greg Peters, said in a statement."
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