Paramount, movies and Warner Bros.
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Employees at the company had started to warm to the idea of Netflix as its corporate owner. Now they face the prospect of major cuts under Paramount.
Add Yahoo as a preferred source to see more of our stories on Google. When you buy through links on our articles, Future and its syndication partners may earn a commission. Credit: Warner Bros./Netflix The industry-shaking deal between Netflix and Warner ...
Netflix jumped more than 11% on Friday as investors applauded its decision to exit the race for Warner Bros Discovery, a months-long bidding war with Paramount Skydance for some of Hollywood's most prized assets.
Netflix said on Thursday that it had backed away from its deal to acquire Warner Bros. Discovery, a stunning development that paves the way for the storied Hollywood media giant to end up under the control of a rival bidder, the technology heir David Ellison.