“It’s no longer attractive.” Netflix does not accept Paramount’s proposal and gives up on Warner HBO

Netflix has declined to increase its proposal to acquire Warner Bros. Discovery’s studio and streaming business, in a surprise move that effectively puts Paramount in a position to take care of its historic Hollywood rival.

On Thursday, after Warner’s board of directors announced that the proposed by Paramount was superior to the agreement it had signed with Netflix, the streaming giant stated that the new price it would have to pay to acquire Warner/HBO made the deal “financially unattractive“.

“We believe we would have been good stewards of the iconic Warner Bros. brands,” Netflix co-chief executives said. Ted Sarandos e Greg Petersin a joint statement. “But this transaction was always something ‘nice to have’ at the right price, not something ‘must-have’ at any price.”

Sarandos and Peters also thanked Warner’s leadership, which had repeatedly supported the — and even while announcing that Paramount/Skydance’s latest proposal was superior, the company said its board of directors maintained its previous recommendation in favor of Netflix.

Paramount and Warner did not immediately respond to requests for comment on Netflix’s decision to exit the deal.

The news came after Paramount had increased your offer competitor for the entire company to 31 dollars per sharein addition to other reviews.

The acquisition of Warner Bros. Discovery would and the media landscape in general.

Unlike Netflixwhich intended to acquire just Warner’s studio and streaming business for $27.75 per share, Paramount Skydance wants to company in its entirety. This means that HBO Max, cult titles like Harry Potter and even CNN could soon find themselves under the umbrella. same roof.

CBS, owned by Paramount, registered editorial changes significant changes, notably with the appointment of Bari Weiss, founder of Free Press, to CBS News, under new owner Skydance.

And if Paramount’s acquisition of Warner is successful, critics warn of the possibility of similar changes at CNN. Paramount Skydance is owned by Larry Ellisonone of the richest men in the world and a close ally of President Donald Trump.