In a significant turn of events, Paramount Skydance has emerged victorious in the bidding war for Warner Bros. Discovery after Netflix opted not to raise its offer. Netflix's co-CEOs, Ted Sarandos and Greg Peters, stated, "At the price required to match Paramount Skydance’s latest offer, the deal is no longer financially attractive," confirming their withdrawal from the competition. Paramount's revised offer of $31 per share was deemed superior to Netflix's bid of $27.75 per share, prompting Warner Bros. to favor the former. Following the resolution of this bidding war, 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 reported by The News Pakistan on February 27, 2026.
BUSINESS
Paramount Skydance Wins Warner Bros Acquisition After Netflix Withdrawal
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Paramount Skydance wins the bidding war for Warner Bros. Discovery with a $31/share offer, as Netflix withdraws. The merger could reshape the media landscape amid regulatory scrutiny.
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TNP-Nthenews.com.pk
TGtheguardian.com
BRbrecorder.com
THthehindu.com
GNglobalnews.ca
SCMPscmp.com
TEtechcrunch.com