Netflix Walks Away from $83 Billion Warner Bros Bid
Netflix withdrew from an $83 billion Warner Bros. Discovery acquisition after Paramount's $111 billion counteroffer, prioritizing financial discipline over content expansion.
Netflix stock rose to $90 after withdrawing from an $83 billion Warner Bros. Discovery acquisition, positioning it for a potential 50% surge to $135 as the company maintains strong subscriber growth and profitability.
Netflix says it won't raise its offer for Warner Bros.
Netflix declined to match Paramount's increased bid for Warner Bros. Discovery, citing that the deal is no longer financially attractive at the required price.