Paramount Skydance wins Warner Bros bidding war. Netflix walks away after determining the deal no longer made financial sense at Paramount's revised offer of thirty-one dollars per share, compared to Netflix's twenty-seven seventy-five dollar bid. Warner Bros CEO David Zaslav confirmed the board will adopt the Paramount merger agreement, creating what he called tremendous shareholder value. The combined entity would unite two major studios, two streaming platforms in HBO Max and Paramount Plus, and two news operations. Netflix shares jumped over ten percent following the withdrawal announcement. The deal faces potential antitrust scrutiny from federal regulators, state authorities, and foreign governments, though approval appears likely given the current political environment. California regulators may challenge the merger.
