Netflix withdraws from the bid to buy Warner Bros. Discovery, after a new offer from Paramount

TL;DR

Netflix will not increase its offer for Warner Bros. Discovery (WBD).
WBD's board has declared Paramount Skydance's (PSKY) latest offer as 'superior'.
Netflix found the price required to match PSKY's offer no longer financially attractive.
PSKY's revised offer is valued at $31 per share, an increase from its previous $30 per share offer.
The new offer also includes an additional $0.25 per share quarterly payment starting September 30, 2026, if the transaction is not completed.
PSKY commits to paying WBD's $2.8 billion break-up fee to Netflix.
Netflix's initial December agreement valued WBD's assets at approximately $72 billion, with a total enterprise value near $82.7 billion.

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