Netflix pulls out of Warner Bros. race after “superior” Paramount bid
via nme.com
Short excerpt below. Read at the original source.
Netflix has backed out of the bidding for Warner Bros., giving Paramount the opportunity to acquire the studio. The streaming platform’s co-CEOs, Ted Sarandos and Greg Peters, released a statement setting out their decision on Thursday (February 27) following months of discussions. “The transaction we negotiated would have created shareholder value with a clear path […]