Netflix Drops Warner Bros Bid, Shares Rally as Paramount Emerges Victorious
2026-02-27 12:05:25 ET
It takes a lot of discipline to choose to walk away from a bad deal -- whether you're buying a car, a house, or a shiny new trinket. You can feel it in your hands and imagine how cool it would be to have it, but then reality hits, and the rational side of your brain realizes that it's not worth the money.
That's where Netflix (NASDAQ: NFLX) is today. The streaming service walked away from its effort to acquire Warner Bros. Discovery (NASDAQ: WBD) after realizing that the bidding war with Paramount Skydance had gotten out of hand (NASDAQ: PSKY) .
Netflix had a deal to buy Warner Bros. for $27.75 per share, but was topped this week by Paramount's $31-per-share cash bid. The deal covers all of Warner Bros.' businesses, including CNN, TBS, and TNT.
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