Netflix drops $82.7-billion bid to acquire Warner Bros, says 'no longer financially attractive'

After months-long battle, Netflix has dropped its proposal to buy Warner Bros Discovery, clearing the way for Paramount Skydance to acquire the Hollywood giant. This comes after Warner Bros determined that Paramount's latest offer was superior to the $82.7-billion Netflix deal. "At the price required to match Paramount's latest offer, the deal is no longer financially attractive," added Netflix.