Netflix Abandons $83 Billion Deal to Acquire Warner Bros. Following Paramount's Competitive Offer

Netflix has decided to withdraw from its proposed $83 billion acquisition of Warner Bros., HBO, and HBO Max. The company's co-CEOs, Ted Sarandos and Greg Peters, announced that they would not match a new bid from Paramount Skydance, which they deemed financially unattractive compared to their initial negotiations. The decision reflects Netflix's commitment to maintaining financial discipline in its acquisitions. The original deal was expected to create shareholder value and had a clear path to regulatory approval, but the new offer from Paramount changed the landscape significantly. Netflix expressed confidence in its ability to manage Warner Bros.' assets but ultimately chose to step back from the deal.

• Netflix withdraws from $83 billion Warner Bros. acquisition.
• Co-CEOs cite financial discipline in decision.
• Paramount Skydance made a more attractive bid.
• Original deal had potential for shareholder value.
• Netflix remains focused on strategic acquisitions.