US Stocks Movement | Netflix surges nearly 9% before the market opens, abandons bid for Warner Bros.

LootboxPhobia · 2026-02-27T12:36:59+00:00

Netflix(NFLX.US) pre-market stock price surged nearly 9%, reaching $91.97. The move paves the way for Paramount's $11.1 billion deal after exiting the acquisition battle for Warner Bros. Discovery. Netflix stated that the deal lacks financial attractiveness and therefore refused to continue bidding.

LootboxPhobia

2026-02-27 12:36:59

Abstract generation in progress

Gelonghui, February 27 — Netflix (NFLX.US) pre-market surged nearly 9%, trading at $91.97. According to news, Netflix has exited the bidding war for Warner Bros. Discovery, paving the way for its competitor Paramount to finalize a $111 billion deal. In a statement, Netflix said, “The transaction we previously negotiated could have created shareholder value and had a clear path to regulatory approval. However, we have always maintained discipline. At the price needed to match Paramount’s latest bid, the deal is no longer financially attractive, so we have declined to pursue Paramount’s bid.” Paramount’s latest offer is $31 per share, which also includes Warner Bros.’ cable networks such as CNN and TNT. Paramount also committed to providing Warner Bros. $2.8 billion to cover termination fee payments to Netflix.

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.