Newzville Entertainment
Paramount Skydance to take control of Warner Brothers Discovery after Netflix said that it would not raise its takeover offer, effectively ending one of the biggest media bidding wars in a generation.
The deal would place a vast portfolio including C.N.N., Nickelodeon and H.B.O. under the control of the family led by Larry Ellison, a longtime ally of U.S. President Trump.
Netflix said that matching Paramount’s sweetened 31 dollars-per-share offer was no longer financially attractive.
Without a counter-offer, Warner Brothers Discovery can now terminate its agreement with Netflix and proceed with Paramount’s bid, which also includes financing commitments and a regulatory termination fee.
