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Paramount Skydance Wins Warner as Netflix Bows Out

Netflix Walks Away From Warner Bros. Deal, Clearing Path for Paramount Skydance Takeover

In a stunning reversal of one of the most closely watched deals in Hollywood history,, Netflix has formally declined to raise its offer for Warner Bros. Discovery, effectively clearing the path for Paramount Skydance to emerge as the winning bidder for the storied studio. The withdrawal comes after Warner Bros. Discovery’s board determined that Paramount Skydance’s revised proposal constituted a “Superior Proposal” under the terms of Netflix’s previously negotiated merger

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