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The Independent UK
The Independent UK
Business
Holly Williams

Paramount on course to win Warner Bros takeover tussle as Netflix withdraws

Paramount Warner Bros Netflix Co Warner United States Paramount Skydance Warner Bros Discovery
Paramount has launched a hostile bid for Warner Bros Discovery in an attempt to derail the firm’s agreed 72 billion dollar (£54 billion) deal with Netflix (Alamy/PA) - (Alamy/PA)

Paramount Skydance looks set to emerge as the winner of the intense bidding battle for Warner Bros Discovery after rival suitor Netflix said it would not raise its takeover offer.

Streaming giant Netflix said in a statement overnight in the US that the price required to top Paramount’s 111 billion US dollar (£82.2 billion) sweetened bid for Warner Bros would make it a deal that is “no longer financially attractive”.

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