Netflix exits Warner Bros. Discovery bidding war, clearing path for Paramount deal. The streaming giant declined to increase its counteroffer Thursday after the WBD board deemed Paramount's revised all-cash bid of $31 per share superior. Netflix shares surged over 10% in extended trading as investors welcomed the clarity, while Paramount rose 5%. However, WBD stock fell 1.39%, and broader markets retreated Thursday. Nvidia shares sank over 5%, dragging the Nasdaq Composite down more than 1%, despite CEO Jensen Huang's reassurances about AI market concerns. The S&P 500 also closed lower. WBD CEO David Zaslav expressed enthusiasm about the combined company creating tremendous shareholder value once the board formally adopts the deal.
