Netflix walks away from Warner Bros deal, clearing way for Paramount takeover

Streaming service says ‘deal no longer financially attractive’ at price required to match Paramount Skydance offerBusiness live – latest updatesNetflix has walked away from its planned takeover of Warner Bros Discovery, declining to raise its offer for the media conglomerate’s storied Hollywood studios and streaming business after it determined a sweetened rival offer from Paramount Skydance to be “superior”.In a statement on Thursday evening, the Netflix co-chief executives Ted Sarandos and Greg Peters said: “At the price required to match Paramount Skydance’s latest offer, the deal is no longer financially attractive.” Continue reading...