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Netflix walks away from its deal to buy Warner Bros. after Paramount came back with a better offer
- Emma Roth
- February 26, 2026 at 11:10 PM
- 5 views
Netflix has dropped its $83 billion deal to acquire the Warner Bros. studio and its streaming service HBO Max. In an announcement on Thursday, co-CEOs Ted Sarandos and Greg Peters say the streamer is "declining to match" the new bid made by Paramount:
The transaction we negotiated would have created shareholder value with a clear path to regulatory approval. However, we've always been disciplined, and at the price required to match Paramount Skydance's latest offer, the deal is no longer financially attractive, so we are declining to match the Paramount Skydance bid.
We believe we would have been strong stewards of Warner Bros.' iconic …
Originally published at The Verge