Netflix pulls out of its deal to buy Warner Bros. After Paramount came back with a better offer

The deal we negotiated would have created shareholder value with a clear path to regulatory approval. However, we have always been disciplined, and at the price required to match Paramount Skydance’s latest offer, the deal is no longer financially attractive, so we decline to match Paramount Skydance’s offer.

We believe we would have been strong stewards of Warner Bros. iconic brands, and that our deal would strengthen the entertainment industry and maintain and create more production jobs in the United States. But this deal was always a “nice to have” at the right price, not a “must have” at any price.