Netflix backs out of bid for Warner Bros. Discovery, giving studios, HBO, and CNN to Ellison-owned Paramount
In a one-two punch of centibillion-dollar offers, the bidding war for Warner Bros. Discovery is over. David Ellison-owned Paramount will acquire Warner Bros. Discovery. Netflix has lost.
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https://techcrunch.com/2026/02/26/netflix-warner-bros-discovery-paramount-wbd-bid-studios-hbo-cnn-ellison/