27 Feb 2026 | 5 Mins Read
Netflix drops out of Warner Bros. Discovery bidding war
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Netflix won't increase its counteroffer for Warner Bros. Discovery's studio and streaming assets, allowing Paramount's $31 per share all-cash bid to take the lead. The WBD board deemed this superior, and its adoption is expected. This cleared a path for Paramount Skydance, while Netflix shares rose 10%, and its stock fell 1.39% despite the decision.