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.
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Paramount Skydance Wins Warner Bros. Bidding War Against Netflix
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Paramount Skydance wins the bidding war for Warner Bros. Discovery with a $31/share offer, surpassing Netflix's bid. The merger aims to unite major media properties, facing potential regulatory scr...
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TNP-Nthenews.com.pk
TGtheguardian.com
BRbrecorder.com
THthehindu.com
GNglobalnews.ca
BU&Cbbc.com
SCMPscmp.com
TEtechcrunch.com