Company walks away from planned takeover as co-chiefs say deal ‘no longer financially attractive’
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Netflix has walked away from its planned takeover of Warner Bros Discovery, declining to raise its offer for the media conglomerate’s storied Hollywood studios and streaming business after it determined a sweetened rival offer from Paramount Skydance to be “superior”.
In a statement on Thursday evening, Netflix co-chief executives Ted Sarandos and Greg Peters said that “at the price required to match Paramount Skydance’s latest offer, the deal is no longer financially attractive”.
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Source link : https://www.theguardian.com/media/2026/feb/26/netflix-paramount-warner-bros
Author : Jeremy Barr in Washington
Publish date : 2026-02-27 00:04:00
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