In a significant turn of events, Paramount Skydance has successfully secured the acquisition of Warner Bros. Discovery, with a revised offer of $31 per share, surpassing Netflix's bid of $27.75 per share. Netflix's co-CEOs, Ted Sarandos and Greg Peters, confirmed their withdrawal from the bidding war, stating that the deal was 'no longer financially attractive.' Following this decision, Netflix shares surged more than 9% in premarket trading, reflecting investor approval of the company's strategic pivot towards internal growth rather than aggressive acquisitions, as noted by Business Recorder on February 27, 2026. Analysts have welcomed this move, suggesting it allows Netflix to refocus on its core business while competitors face regulatory hurdles and integration challenges from the merger.
BUSINESS
Paramount Acquires Warner Bros For $31 Per Share Bid
47% NEUTRAL
Paramount Skydance acquires Warner Bros. Discovery for $31/share, outbidding Netflix. Netflix's withdrawal boosts its shares, allowing a shift towards internal growth amid industry challenges.
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