Netflix ends Warner Bros. deal as Paramount secures larger offer

Warner Bros. Discovery’s board has declared Paramount’s enhanced offer to acquire the company as “superior” to Netflix’s previously agreed $83 billion deal, prompting Netflix to withdraw from the bidding process. Paramount’s bid, which now totals $108 billion, includes assets like CNN and TBS, and is led by CEO David Ellison. This acquisition is expected to face regulatory scrutiny, but it may preserve traditional studio operations better than a streaming-only model. The shift marks a significant change in the media landscape as Warner Bros. changes ownership.

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