Just months after Netflix agreed to purchase Warner Bros. studio, HBO, HBO Max, and Warner Games, it has rescinded its decision, opting not to increase its bid beyond Paramount’s final offer. This development is the latest in a series of events in the acquisition saga, which began with several companies, including Apple, Amazon, and Comcast, vying for Warner Bros. After Netflix and Warner Bros. reached an agreement on December 5th, Paramount made a hostile $108.4 billion cash bid, encompassing all Warner Bros. Discovery assets. Paramount continued to increase its offer despite initial rejections, ultimately presenting an all-cash proposal with $31 per share and assurances to cover a $7 billion regulatory termination fee, as well as the $2.87 billion fee for Netflix if the deal with WBD fell through. Warner Bros. Discovery deemed Paramount’s offer superior, prompting Netflix to withdraw, stating it’s “no longer financially attractive.” Concerns about the deal’s future and regulatory issues remain, with updates anticipated.
Netflix Isn’t Buying Warner Bros: The Latest Updates
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