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Story summary
- Netflix abandons its $72 billion Warner Bros. acquisition after rejecting Paramount Skydance's high offer.
- Netflix's stock rose after the announcement.
- The decision avoids antitrust issues and debt from the deal.
- Netflix will receive a $2.8 billion termination fee, about 23% of fourth-quarter sales.
- The streaming industry still holds substantial growth potential, supporting Netflix's long-term outlook.
