Paramount Skydance victory in Warner Bros….
Netflix CEO Ted Sarandos failed Thursday to persuade a skeptical Trump administration to approve his proposed takeover of Warner Bros. Discovery – and with that, his practically finished deal to buy WBD’s streaming service and studio went into a death spiral.
Late Thursday, WBD deemed a revised bid of $31 a share from rival Paramount Skydance a “reasonably superior offer,” forcing Netflix to pull its bid thus ending a six-month takeover battle that has captivated Wall Street and the media business.
The backdrop of the announcement was the more and more insurmountable…
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