Netflix walks away from its deal to buy Warner Bros. after Paramount came back with a better offer

Netflix has dropped its $83 cardinal woody to get the Warner Bros. studio, HBO, and its streaming work HBO Max. In an announcement connected Thursday, co-CEOs Ted Sarandos and Greg Peters accidental the streamer is "declining to match" the caller bid made by Paramount:

The transaction we negotiated would person created shareholder worth with a wide way to regulatory approval. However, we've ever been disciplined, and astatine the terms required to lucifer Paramount Skydance's latest offer, the woody is nary longer financially attractive, truthful we are declining to lucifer the Paramount Skydance bid.

We judge we would person been beardown stewards of Warner Bros.' one …

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