The post Netflix Backs Out Of WBD Deal, Cites Paramount’s Raised Offer appeared on BitcoinEthereumNews.com.

TOPSHOT – The Netflix logo is displayed at the entrance to Netflix Albuquerque Studios film and television production studio lot in Albuquerque, New Mexico on October 13, 2023. (Photo by Patrick T. Fallon / AFP) (Photo by PATRICK T. FALLON/AFP via Getty Images) AFP via Getty Images The fight for Warner Bros. is over. Netflix has declined to raise their bid to acquire Warner Bros. Discovery’s storied TV, film, and streaming assets after Paramount increased their offer for the entire company. Netflix had a deal with the legacy brand that would have seen the streamer branch into the theatrical film market and provide content to networks and rival services as a third party producer of original series and movies. However, Paramount has been bullish in its pursuit of WBD, launching a hostile bid in December just days after Netflix and the company announced their agreement. Paramount’s persistence has paid off. WBD disclosed on February 26 that its new offer constitutes a “Company Superior Proposal” and had given Netflix four days to make a counter bid. However, Netflix has chosen to pull out of the merger agreement. In a press release, co-CEOs Ted Sarandos and Greg Peters shared that “the deal is no longer financially attractive” at the price they’d have to match Paramount. The competing proposal is “a purchase price of $31.00 per WBD share in cash, plus a daily ticking fee equal to $0.25 per share per quarter beginning after September 30, 2026, as well as a $7 billion regulatory termination fee payable by PSKY in the event the transaction does not close due to regulatory matters, payment by PSKY of the $2.8 billion termination fee that WBD would be required to pay to Netflix to terminate the existing Netflix merger agreement,” according to WBD. In their statement, Sarandos…

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Filed under: News - @ February 27, 2026 2:26 am