Friday, February 27, 2026 at 10:05 AM
Netflix pulled the plug on its deal soon after Warner’s board determined Paramount’s revised offer was superior.
The media company logged lower revenue in the fourth quarter, driven by declines across each of its segments, as it remained in the middle of a high-stakes bidding war between Netflix and Paramount Skydance.
Warner didn’t disclose details of the offer, but last week gave the hostile suitor a seven-day window to make its “best and final” appeal.
The king of streaming preserves its business model, while Paramount Skydance will have to deal with a massive postmerger debt load.
Paramount’s David Ellison used his wealth and influence to get Warner
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