Here’s what Netflix said late Thursday: “The transaction we negotiated would have created shareholder value with a clear path to regulatory approval. However, we’ve always been disciplined, and at the price required to match Paramount Skydance’s latest offer, the deal is no longer financially attractive, so we are declining to match the Paramount Skydance bid.”…
Shares of Netflix jumped more than 9% in premarket trading on Friday after the company dropped out of the race to acquire Warner Bros Discovery (WBD), with investors cheering its decision to walk away from the high-stakes deal. At the same time, Paramount’s shares climbed about 10% as the company emerged as the frontrunner to…
Netflix co-chief executive Ted Sarandos has moved to calm industry concerns over the streaming giant’s commitment to theatrical film distribution, underscoring that the company’s potential acquisition of Warner Bros. Discovery (WBD) would not undermine the traditional cinema model. His comments come amid heightened scrutiny from cinema owners, filmmakers and trade groups as Netflix seeks to…
