It looks like Paramount Skydance will soon be the new owner of Warner Bros. Discovery.
Just a couple of hours after the David Zaslav-led media company’s board declared Paramount‘s new bid a “superior proposal,” Netflix announced that it had declined to increase its offer and had officially pulled out of the bidding war.
Netflix’s swift response has come as quite a surprise, since the streamer had four business days to come up with a new proposal to salvage the deal.
Netflix co-CEOs Ted Sarandos and Greg Peters released the following joint statement.
“The transaction we negotiated would have created shareholder value with a clear path to regulatory approval.
‘ The preceding article may include information circulated by third parties ’
‘ Some details of this article were extracted from the following source www.imdb.com ’
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