Netflix Walks Away from Warner Bros. Deal, Cites Strengthened M&A Discipline

14 articles · Updated · CNBC · Apr 17

Netflix has abandoned its $83 billion bid to acquire Warner Bros. Discovery after being outbid by Paramount Skydance.
Co-CEO Ted Sarandos said the process strengthened Netflix’s M&A capabilities and tested its investment discipline, resulting in a $2.8 billion breakup fee.
Sarandos emphasised the deal was a 'nice to have' and that Netflix remains focused on its core business amid intensifying streaming competition.

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