00:00Netflix has announced that it has declined to raise its offer for Warner Bros. Discovery.
00:06That effectively clears the way for Paramount's guidance to take the lead in the bidding for one of Hollywood's most
00:12valuable studios.
00:15A memo from Netflix confirmed its response to Warner Bros. board.
00:20The board said Paramount's latest offer was superior to Netflix's existing deal.
00:26Paramount had boosted its offer earlier this month, agreeing to increase its purchase proposal by $1 per share.
00:33Netflix co-chief executives Ted Sarandos and Greg Peters said the deal was always a nice-to-have at the
00:40right price, not a must-have at any price.
00:43If regulators gave the green light, this deal could change Hollywood and bring an end to months of intense bidding.
Comments