Warner Bros. Discovery's board of directors described Paramount Skydance's latest acquisition offer as "superior" to Netflix's current bid.

Paramount’s A$156 billion takeover of Warner Bros Discover benefits Donald Trump, Netflix and some of the richest men in Hollywood. That’s about it.

By Karol Badohal, Harshita Mary Varghese and Jaspreet Singh Feb 27 (Reuters) - Warner Bros Discovery has agreed to be acquired by Paramount Skydance in a $110 billion deal, ending a high-stakes bidding war after Netflix walked away from its agreement with the HBO Max owner.

Paramount Chief David Ellison, who began his pursuit of Warner Bros. last fall, said he was pleased Warner's board "unanimously affirmed the superior value of our offer."

A months-long bidding contest for Warner Bros. Discovery has come to an end after Netflix declined to match a higher offer from Paramount Skydance.

Streaming giant Netflix declined to match Paramount Skydance's $31 per share offer for Warner Bros. Discovery.

Paramount Skydance and Warner Bros. Discovery are officially merging. The studio paid Netflix the $2.8 billion termination fee it was owed for breaking its original deal to buy Warner Bros. earlier today,

By Aditya Soni, Akash Sriram and Dawn Chmielewski Feb 26 (Reuters) - Paramount Skydance emerged as the winner in a months-long battle to acquire Warner Bros Discovery, after streaming giant Netflix on Thursday refused to raise its bid for the storied Hollywood studio.

Netflix co-chief CEO Ted Sarandos has spoken out for the first time since the company lost the bid to buy Warner Bros. Discovery.