Netflix ditches deal for Warner Bros. Discovery after Paramount’s offer is deemed superior

* "Netflix declined to raise its bid for Warner Bros. Discovery’s assets to match a revised bid by Paramount Skydance.
* On Thursday, the WBD board said it valued Paramount’s $31-per-share offer to be superior to an existing deal with Netflix.
* Paramount agreed to pay the $2.8 billion breakup fee that WBD would owe Netflix if that deal didn’t go through.
* Netflix stock spiked in extended trading, while shares of Warner Bros. Discovery fell."

Source: [https://www.cnbc.com/2026/02/26/warner-bros-discovery-paramount-skydance-deal-superior-netflix.html](https://www.cnbc.com/2026/02/26/warner-bros-discovery-paramount-skydance-deal-superior-netflix.html)

Congratulations Netflix shareholders, we're back on track boys.