Netflix isn’t buying Warner Bros: all of the latest updates

Just months after Netflix struck a deal to acquire the Warner Bros. studio, HBO, HBO Max, and Warner Games, the streaming giant has backed out of the arrangement, declining to raise its offer beyond Paramount’s “best and final” bid.

It’s just the latest twist in the acquisition saga, which started with a bidding war that reportedly also involved Apple, Amazon, and Comcast. Once Netflix and Warner Bros. came to an agreement on December 5th, Paramount tried to force its way into the deal...