Netflix Steps Aside in Warner Bros. Discovery Battle, Paramount-Skydance Bid Faces Employee Unease and Regulatory Hurdles

The takeover saga surrounding Warner Bros. Discovery entered a new phase Thursday after Netflix said it would not raise its $27.75-per-share offer, effectively clearing the path for Paramount Global and Skydance Media to advance a revised $31-per-share all-cash bid. The WBD board earlier determined that Paramount’s sweetened proposal represented a superior offer. Netflix had four

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