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Netflix's decision to back down from the bidding war clears the path for Paramount to win the takeover battle.
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.
The move was a stunning development in the long-running corporate battle for the storied media giant.
