Netflix backs out of bid for Warner Bros. Discovery, giving studios, HBO, and CNN to Ellison-owned Paramount
In a flurry of deal offers in the high tens of billions of dollars, the bidding war for Warner Bros. Discovery is over. David Ellison-owned Paramount will acquire Warner Bros. Discovery. On Thursday, Warner Bros. Discovery announced that Paramount Skydance’s newest offer of $31 a share was a “superior proposal,” giving Netflix four business days…
