Warner Bros. gave itself completely to Paramount for 110 billion dollars

Warner Bros. fully committed to Paramount for $110 billion

If anyone is against this deal, speak now or forever hold your peace!

Streaming service Netflix has decided not to interfere in the acquisition of Warner Bros. Discovery by Paramount Skydance, conceding the right to acquire the assets. According to an audio recording of an internal Warner Bros. meeting obtained by Reuters, Netflix refused to outbid Paramount’s final offer of $31 per share against their own $27.75.

This decision led to the signing of a historic agreement on Friday morning: Warner Bros. Discovery officially accepted the acquisition offer from the merged Paramount Skydance entity. The total deal value is estimated at $110 billion, putting an end to the prolonged battle for the assets.

The stock market responded positively to the news: Paramount shares soared 24%, while Netflix stocks rose 13%. Investors saw the streaming giant’s exit from the race as relief from potentially burdensome expenses.

Official representatives from both sides are refraining from detailed comments for now, however, Warner Bros. Chief Revenue and Strategy Officer Bruce Campbell has already confirmed to employees that the situation resolved in this manner.