Source link : https://tech365.info/netflix-walks-away-from-warner-bros-deal-paramount-set-to-take-over/
Netflix has dropped out of the takeover battle for Warner Bros. Discovery, placing Paramount Skydance heading in the right direction to win the entire WBD enterprise.
The world’s largest streaming service had been pegged to land a deal by which it could purchase Warner Bros., HBO, and HBO Max in a cash-and-stock deal valued at $72 billion in fairness and $82.7 billion, together with debt. However after Paramount submitted a closing supply, valuing WBD at $111bn together with debt, Netflix declined to match it.
In an announcement on Thursday, Netflix co-CEOs Ted Sarandos and Greg Peters mentioned:
The transaction we negotiated would have created shareholder worth with a transparent path to regulatory approval. Nonetheless, we have all the time been disciplined, and on the worth required to match Paramount Skydance’s newest supply, the deal is now not financially engaging, so we’re declining to match the Paramount Skydance bid.
We consider we might have been sturdy stewards of Warner Bros.’ iconic manufacturers, and that our deal would have strengthened the leisure trade and preserved and created extra manufacturing jobs within the U.S. However this transaction was all the time a ‘good to have’ on the proper worth, not a ‘should have’ at any worth.
Netflix shares surged by 8.5% in after-hours buying and selling, indicating reduction amongst buyers that the streaming firm has not risked overpaying for Warner Bros.
Warner’s board mentioned Thursday night…
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Author : tech365
Publish date : 2026-02-27 12:18:00
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