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Leo Miller

Warner Bros. Rejects Paramount's Offer—How It Affects WBD, NFLX, PSKY

WBD Warner Bros Paramount PSKY NFLX Netflix Discovery Global Paramount Skydance Bloomberg Intelligence MarketBeat

Shares of entertainment giant Warner Bros. Discovery (NASDAQ: WBD) had a landmark year in 2025. They rose approximately 173%, ending the year as the best-performing communications stock in the S&P 500 Index.

The battle to purchase Warner Bros. was by far the dominant driver of the stock’s performance. Warner Bros. and Netflix (NASDAQ: NFLX) reached a deal in December, when the streaming leader agreed to buy most of WBD for an enterprise value of around $82.7 billion.

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