KLEARED
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We fix mistakes when found.
Netflix Drops Warner Bros. Discovery Bid
Netflix stopped trying to buy Warner Bros. Discovery's studios and streaming services.
Netflix leaders said the deal was no longer worth the money. Paramount Skydance offered $111 billion for Warner Bros.
Discovery instead. Paramount offered $31 per share while Netflix offered $27.75 per share.
Warner Bros. Discovery's board picked Paramount's offer as better. Netflix's withdrawal clears the way for Paramount to complete its purchase.
Klear Note — Warner Bros. Discovery owns major studios and HBO streaming service. Acquiring it would help Netflix compete with other streaming companies for content and viewers.
Key Terms 3
- Warner Bros. Discovery
- Major media company that owns movie studios and streaming services.
- Paramount Skydance
- Entertainment company trying to buy Warner Bros. Discovery.
- per share
- Price for one small piece of ownership in a company.