Streaming service says ‘deal no longer financially attractive’ at price required to match Paramount Skydance offer
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Streaming service says ‘deal no longer financially attractive’ at price required to match Paramount Skydance offer
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Netflix 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, Netflix co-chief executives Ted Sarandos and Greg Peters said that “at the price required to match Paramount Skydance’s latest offer, the deal is no longer financially attractive”.
Continue reading...Source: Guardian - World News
