From Cheddar.

Netflix has declined to raise its offer for Warner Bros. Discovery after the company’s board determined that a revised bid from Paramount Skydance is a “superior proposal,” triggering a contractual window for Netflix to respond but ultimately prompting the streaming giant to bow out. Paramount’s all-cash offer of $31 per share plus protections like a large regulatory termination fee and quarterly “ticking fees” is seen as more valuable and certain than Netflix’s previous deal. Warner Bros. Discovery had earlier agreed to a merger with Netflix worth about $82.7 billion, but the board’s recent decision gives Paramount the upper hand. With Netflix now standing down rather than match the new terms, Paramount is poised to win ownership of the iconic studio and streaming giant.

Connect with Cheddar!
On Facebook: https://facebook.com/cheddar
On Instagram: https://instagram.com/cheddar
On the web: https://cheddar.com
In your inbox: https://need2know.cheddar.com/subscribe