Netflix Cedes Warner Bros. Bidding War to Paramount After Declining to Increase Offer

In a stunning twist in the months-long corporate war, Netflix declined to increase its $83 billion offer for Warner Bros. Discovery after the company's board called Paramount Skydance's revised bid 'superior.' The decision hands Paramount the win in what was the largest media acquisition battle in history, reshaping the entertainment landscape by creating a combined entity that could rival Disney in content and distribution. The deal comes as Netflix was already under pressure from President Trump to fire board member Susan Rice.