Paramount wins bidding war for Warner Bros.
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The surprise news Thursday that Netflix was ending its pursuit of Warner Bros. caught nearly everyone in Hollywood off guard, including staffers inside Warner Bros., Paramount and Netflix. The
After the WBD determines the latest Paramount offer is "superior," Netflix has four days to match or exceed it.
Netflix said Thursday afternoon that it has “declined to raise its offer for Warner Bros.” after the Warner Bros. Discovery board determined that Paramount has submitted a “superior” offer.
Mark Thompson urged employees to focus on their work after Paramount won the bidding for CNN parent company Warner Bros Discovery.