NPR Topics: Business•Feb 26
In reversal, Warner Bros. jilts Netflix for Paramount
Discovery board announced late Thursday afternoon that Paramount's sweetened bid to buy the entire company is "superior" to an $83 billion deal it had struck with Netflix for the purchase of its streaming services, studios, and intellectual property. Paramount previously bid for all of Warner — including its cable channels such as CNN, TBS, and Discovery — in a deal valued at $108 billion. Earlier this week, Paramount unveiled a fresh proposal increasing its bid by a dollar a share.
