Netflix says it’s not buying Warner Bros. after all: ‘No longer financially attractive’

Netflix is declining to raise its offer to buy Warner Bros. Discovery’s studio and streaming business, in a stunning move that effectively puts Paramount in a position to take over its storied Hollywood rival.

On Thursday, after Warner’s board announced that Skydance-owned Paramount’s offer was superior to the agreement it had previously struck with Netflix, the streaming giant said the new price it would have to pay to acquire Warner would make the deal “no longer financially attractive.”

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