{"id":6570,"date":"2026-02-27T14:49:17","date_gmt":"2026-02-27T14:49:17","guid":{"rendered":"https:\/\/foreignnewstoday.com\/?p=6570"},"modified":"2026-02-27T14:49:17","modified_gmt":"2026-02-27T14:49:17","slug":"netflix-pulls-out-of-warner-bros-discovery-bid-after-paramount-offer","status":"publish","type":"post","link":"https:\/\/foreignnewstoday.com\/?p=6570","title":{"rendered":"Netflix pulls out of Warner Bros Discovery bid after Paramount offer"},"content":{"rendered":"


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Evernote ISI senior managing partner Mark Mahaney explains why Netflix stock is a good investment despite competition for streaming competitors on \u2018Varney & Co.\u2019<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

Warner Bros. Discovery CEO David Zaslav may have been counting on watching one last round in the Netflix vs. Paramount Skydance boxing match to acquire the media company<\/a> he runs. What he might not have anticipated was that Netflix wouldn’t even bother re-entering the ring.<\/p>\n

Thursday after the market close, WBD announced that Paramount Skydance\u2019s last and best offer of $31 a share for its film studio, streaming platform and cable networks was superior to Netflix\u2019s previously accepted bid of $27.75 a share for the studio and streaming assets.<\/p>\n

WBD’s declaration started a countdown clock: Netflix was granted<\/a> four business days to match or beat Paramount\u2019s new bid, but just an hour and 10 minutes later, Netflix left the arena.<\/p>\n

NETFLIX BACKS OUT OF WARNER BROS BIDDING WAR AFTER PARAMOUNT MADE ‘SUPERIOR’ OFFER<\/strong><\/a><\/p>\n

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WBD said Paramount Skydance\u2019s last and best offer of $31 a share for its film studio, streaming platform and cable networks was superior to Netflix\u2019s previously accepted bid of $27.75 a share for the studio and streaming assets. Netflix co-CEO Ted Sa<\/span> (Charley Gallay\/Getty Images for Netflix \/ Getty Images)<\/span><\/p>\n<\/div>\n<\/div>\n

In a joint statement, the streamer’s co-CEOs, Ted Sarandos and Greg Peters, said, “The transaction we negotiated would have created shareholder value with a clear path to regulatory approval. However, we\u2019ve always been disciplined, and at the price required to match Paramount Skydance\u2019s latest offer, the deal is no longer financially attractive<\/a>, so we are declining to match the Paramount Skydance bid.”\u00a0<\/p>\n

Considering Sarandos\u2019 tone in the final days of the process, the market should have been ready for the quick exit. In an interview Feb. 20 on FOX Business\u2019 “Claman Countdown,”<\/a> Sarandos, when pressed as to whether he’d match a potentially higher bid by Paramount Skydance, seemingly took a page out of former Berkshire Hathaway CEO Warren Buffett’s “never overpay for an asset no matter how much you want it” playbook.<\/p>\n

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Netflix was granted four business days to match or beat Paramount\u2019s new bid, but just an hour and 10 minutes later, Netflix left the arena.<\/span> (Mario Tama\/Getty Images \/ Getty Images)<\/span><\/p>\n<\/div>\n<\/div>\n

“We’ve been very disciplined buyers in our careers. Our shareholders know us and they expect us to continue to do what we do, which is remain a disciplined buyer,” Sarandos told FBN.<\/p>\n

Netflix shareholders have never fully embraced the merger since the official bidding process began Nov. 20. Since then, Netflix shares have shriveled more than 19%.<\/p>\n

\n\n\n\n\n\n\n
Ticker<\/th>\nSecurity<\/th>\nLast<\/th>\nChange<\/th>\nChange %<\/th>\n<\/tr>\n<\/thead>\n
NFLX<\/a><\/td>\nNETFLIX INC.<\/td>\n91.84<\/td>\n+7.25<\/td>\n\n +8.57%\n <\/td>\n<\/tr>\n
WBD<\/a><\/td>\nWARNER BROS. DISCOVERY INC.<\/td>\n28.80<\/td>\n-0.10<\/td>\n\n -0.35%\n <\/td>\n<\/tr>\n
PSKY<\/a><\/td>\nPARAMOUNT SKYDANCE CORP.<\/td>\n11.18<\/td>\n+1.02<\/td>\n\n +10.04%\n <\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n

Much of the concern focused on whether the $82.7 billion dollar cost might shake Netflix’s solid balance sheet, and whether the deal would pass regulatory muster.<\/p>\n

NETFLIX CO-CEO ACCUSES JAMES CAMERON OF SPREADING ‘MISINFORMATION’ ABOUT WARNER BROS. ACQUISITION<\/strong><\/a><\/p>\n

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Netflix shareholders have never fully embraced the merger since the official bidding process began November 20.<\/span> (Mario Tama\/Getty Images \/ Getty Images)<\/span><\/p>\n<\/div>\n<\/div>\n

GET FOX BUSINESS ON THE GO BY CLICKING HERE<\/u><\/strong><\/a><\/p>\n

Thursday evening when WBD confirmed the superiority of Paramount’s bid, Netflix shares saw a relief rally, soaring nearly 10% in after-hours trade.<\/p>\n

In its statement, Netflix\u2019s co-CEOs intimated they agreed with shareholders.<\/p>\n

“This transaction was always a \u2018nice to have\u2019 at the right price, not a \u2018must have\u2019 at any price,” Sarandos and Peters said.<\/p>\n<\/div>\n


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Evernote ISI senior managing partner Mark Mahaney explains why Netflix stock is a good investment despite competition for streaming competitors on \u2018Varney & Co.\u2019 Warner Bros.…<\/p>\n","protected":false},"author":1,"featured_media":6571,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[40],"tags":[],"class_list":["post-6570","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/foreignnewstoday.com\/index.php?rest_route=\/wp\/v2\/posts\/6570","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/foreignnewstoday.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/foreignnewstoday.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/foreignnewstoday.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/foreignnewstoday.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=6570"}],"version-history":[{"count":0,"href":"https:\/\/foreignnewstoday.com\/index.php?rest_route=\/wp\/v2\/posts\/6570\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/foreignnewstoday.com\/index.php?rest_route=\/wp\/v2\/media\/6571"}],"wp:attachment":[{"href":"https:\/\/foreignnewstoday.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=6570"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/foreignnewstoday.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=6570"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/foreignnewstoday.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=6570"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}