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flag Netflix backs away from acquiring Warner Bros. Discovery’s streaming assets due to a more attractive bid from Paramount and Skydance.

flag Netflix has decided not to raise its offer to acquire Warner Bros. Discovery’s streaming and studio assets, stating the deal is no longer financially attractive. flag The decision follows a revised $31-per-share bid from Paramount Global and Skydance Media, which made the acquisition less appealing. flag While Netflix hasn’t formally withdrawn its proposal, it has signaled it will not pursue the deal under current terms. flag The shift highlights intensifying competition among major media companies to expand their streaming platforms amid a rapidly evolving industry landscape.

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