It will all end in flames
When the news broke yesterday that Netflix had dropped out of the monthslong bidding war to control Warner Bros. Discovery—including its massive film library, range of TV networks, and news empire—the streamer’s stock immediately jumped. It was a curious market reaction, but one that seemed to reflect the deep mistrust that Netflix’s investors, and much of the media industry at large, had...
Continue Reading on https://www.theatlantic.comWall Street seems thrilled that Netflix is walking away from its deal to buy Warner Bros. Discovery. Shares of the streaming giant were up nearly 10% in after-hours trading, at more than $92, after Netflix declined to increase its offer for the film and media giant after the company’s board declared Paramount Skydance’s new bid was a “superior proposal.” Netflix’s stock had closed Thursday at...
Continue Reading on https://drudgereport.comNetflix has thrown in the towel and won’t be raising its offer for Warner Bros. to match a rival bid by Paramount — game-changing news that caps several days of action around the bidding war. The move comes two hours after Warner Bros. Discovery said it determined that the latest offer it received from Paramount was superior to the $82.7 billion deal it signed with Netflix on December...
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