Netflix has dropped its $83 billion deal to acquire the Warner Bros. studio, HBO, and its streaming service HBO Max. In an announcement on Thursday, co-CEOs Ted Sarandos and Greg Peters say the streamer is “declining to match” the new bid made by Paramount:
The transaction we negotiated would have created shareholder value with a clear path to regulatory approval. However, we’ve always been disciplined, and at the price required to match Paramount Skydance’s latest offer, the deal is no longer financially attractive, so we are declining to match the Paramount Skydance bid.
We believe we would have been strong stewards of Warner Bros.’ i …
Read the full story at The Verge.
Original Source: https://www.theverge.com/streaming/885753/netflix-exit-warner-bros-discovery-deal-paramount
Original Source: https://www.theverge.com/streaming/885753/netflix-exit-warner-bros-discovery-deal-paramount
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