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Streaming giant Netflix declines to match Paramount Skydance's $31 per share offer for Warner Bros. Discovery.
Netflix has announced that it has declined to raise its offer for Warner Bros. Discovery, meaning Paramount Skydance now has a clear path to win the bidding war for the company in charge of Game of Thrones, Harry Potter, the DC Universe, and much more.
Netflix's decision to back down from the bidding war clears the path for Paramount to win the takeover battle.
The move was a stunning development in the long-running corporate battle for the storied media giant.
