economy
March 2, 2026
Why did Netflix back down from its deal to acquire Warner Bros.?
Netflix's co-CEO reportedly told Trump, "I took your advice."
TL;DR
- Netflix declined to raise its bid for Warner Bros. Discovery.
- Paramount Skydance is now expected to win ownership of the studio.
- Netflix cited financial discipline as a reason for backing down.
- Shareholder skepticism about the deal led to a decline in Netflix's stock price.
- Netflix's stock price increased after announcing it was backing down.
- Paramount's increased offer and willingness for a bidding war influenced Netflix's decision.
- Netflix's co-CEO reportedly told President Trump he took his advice not to overpay.
- Warner Bros. employees are concerned about layoffs and political pressure on CNN.
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