Story perspectives

Netflix Withdraws Bid; Paramount Skydance Eyes $111B Deal

2/27/2026

Summary

Story summary

Netflix will not pursue its bid for Warner Bros. Discovery.
Paramount Skydance, linked to Larry Ellison, a Trump ally, would take over.
The decision followed a bidding war and a meeting between Ted Sarandos, Netflix CEO, and officials for U.S. President Donald Trump.
The $111 billion deal still requires regulatory approval, with California Attorney General Rob Bonta indicating an ongoing investigation.

History

Historical Context

In 2025, Warner Bros. Discovery (WBD) faced a competitive bidding war involving Netflix and Paramount Skydance, with Paramount ultimately offering $111 billion for the entire company. The acquisition raised significant antitrust concerns, prompting scrutiny from lawmakers and regulators, including California Attorney General Rob Bonta, highlighting the ongoing tensions in the evolving media landscape and the intersection of politics and entertainment.

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Story summary

Netflix will not pursue its bid for Warner Bros. Discovery.
Paramount Skydance, linked to Larry Ellison, a Trump ally, would take over.
The decision followed a bidding war and a meeting between Ted Sarandos, Netflix CEO, and officials for U.S. President Donald Trump.
The $111 billion deal still requires regulatory approval, with California Attorney General Rob Bonta indicating an ongoing investigation.

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