Source: The Hollywood Reporter
“In a stunning twist, Netflix is declining to raise its bid for Warner Bros., positioning David Ellison’s Paramount as the winner in the battle for the fabled studio. Netflix co-CEOs Ted Sarandos and Greg Peters released a statement Thursday outlining their decision, namely that the deal is ‘no longer financially attractive’ and that it ‘was always a ‘nice to have’ at the right price, not a ‘must have’ at any price.’ … With Netflix out, Paramount’s latest bid is almost a sure thing to be accepted by the Warners board, which determined earlier Thursday that it was a ‘superior proposal’ to Netflix’s deal.” (02/26/26)