Paramount revealed as 'SUPERIOR OFFER' to buy Warner Bros. as NETFLIX drops bid

Netflix is dropping its offer to buy Warner Bros. Discovery’s studio and streaming business, in a move that puts Paramount in a position to take over.

On Thursday, Warner’s board announced that Skydance-owned Paramount’s latest offer to buy the entire company for $31 per share was superior to the agreement it had previously struck with Netflix. Warner gave Netflix four business days to come up with a counteroffer — but Netflix instead responded less than two hours later, declining to raise its proposal. It said the new price it would have to pay made the deal “no longer financially attractive.”

#netflix #warnerbros #streaming #paramount

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