Netflix will exit the deal to purchase Warner Bros.
In its statement, Netflix indicated that the current offer from Paramount Skydance makes further attempts to acquire Warner Bros. financially impractical. Paramount Skydance offered $31 per share for the purchase of Warner Bros. This offer also includes that Paramount Skydance will take on the payment of a $2.8 billion penalty that Warner Bros. would have to pay to Netflix in the event of a termination of the previous agreement.