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Paramount Wins Warner Bros as Netflix Drops Out of $82B Bidding War

/ 03:50/E1038
Netflix has officially withdrawn its bid to acquire Warner Bros Discovery, paving the way for Paramount Skydance to take control of the legendary Hollywood studio. Following a months-long bidding war, Netflix co-CEOs Ted Sarandos and Greg Peters announced on Thursday, February 26th, that the acquisition was no longer financially attractive after Paramount sweetened its offer to $31 per share. The David Ellison-led Paramount will now likely absorb Warner Bros’ vast portfolio, including HBO, the Food Network, and the news giant CNN. This consolidation marks a massive shift in the media landscape, potentially merging HBO Max with Paramount’s streaming services. However, the deal still faces significant hurdles, including intense regulatory scrutiny and political opposition. Senator Elizabeth Warren has already labeled the merger an antitrust disaster, and the future of CNN remains a point of contention given previous criticisms from Donald Trump. If the deal closes, Paramount will pay billions in fees and debt, cementing its status as a dominant Hollywood heavyweight while Netflix refocuses on internal content investment and share buybacks.

Netflix has officially withdrawn its bid for Warner Bros Discovery, effectively ending a high-stakes bidding war and clearing the path for Paramount Skydance to acquire the historic studio. The decision, announced by Netflix co-CEOs Ted Sarandos and Greg Peters on February 26th, 2026, followed Paramount’s superior offer of $31 per share. This massive consolidation is set to reshape Hollywood, bringing together brands like HBO, CNN, and CBS under David Ellison's leadership. While Netflix opted for financial discipline over a nice-to-have acquisition, the deal now moves into a rocky regulatory phase. We examine the $82 billion implications for the streaming landscape and the political firestorm surrounding CNN’s future in the wake of this historic deal.

Topics Covered

  • 💼 Netflix withdraws its nice-to-have bid for Warner Bros Discovery citing financial discipline.
  • 📈 Paramount Skydance sweetens its offer to $31 per share to clinch the acquisition.
  • 🏛️ Political pushback grows as Senator Elizabeth Warren warns of a potential antitrust disaster.
  • 🌍 The future of CNN and global streaming services under the new combined management.
  • 📊 Financial markets react as Netflix shares surge following the announcement.

Neural Newscast is AI-assisted, human reviewed. View our AI Transparency Policy at NeuralNewscast.com.

  • (00:00) - Introduction
  • (00:14) - Paramount and CNN
  • (00:14) - Netflix Abandons Bid
  • (02:29) - Regulatory and Political Hurdles
  • (03:17) - Conclusion
Paramount Wins Warner Bros as Netflix Drops Out of $82B Bidding War

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