Netflix Co-CEO Quits Warner Bros. Bid Fight
March 2, 2026·about 1 hour ago·via The Edge Malaysia
Netflix co-CEO Ted Sarandos explains pulling out of the Warner Bros. Discovery bidding war, citing financial discipline after shareholders tanked the stock 30% on the initial deal announcement. Netflix declines to match Paramount Skydance's superior $31-per-share offer, pocketing a $2.8 billion breakup fee while their shares rebound 14%. Sarandos reportedly takes President Trump's prior advice not to overpay, confirmed in a meeting with Trump administration officials.
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