New York Post·2026-02-27 00:53Core Viewpoint - Netflix's attempt to acquire Warner Bros. Discovery (WBD) has failed due to regulatory challenges and a competing bid from Paramount Skydance, leading to the end of a six-month takeover battle [1][2][4]. Group 1: Acquisition Attempt - Netflix CEO Ted Sarandos was unable to persuade the Trump administration to approve the takeover, which was deemed to face significant antitrust concerns [2][5]. - A revised bid of $31 per share from Paramount Skydance was considered a "reasonably superior offer" by WBD, prompting Netflix to withdraw its bid [1][6]. - Sarandos argued that the merger would not create a streaming monopoly, as it would combine Netflix's No. 1 service with WBD's No. 3 service [4][5]. Group 2: Regulatory Environment - The Trump administration's skepticism was evident during Sarandos' meeting with key officials, where he attempted to mitigate antitrust concerns [2][5]. - The administration's stance was influenced by perceptions that Netflix's content offerings lean politically left, raising additional concerns about granting the company more market power [16][18]. Group 3: Market Reactions and Implications - Netflix's market value has reportedly decreased by around $200 billion since the bidding process began, reflecting investor concerns about the company's growth strategy and the financial implications of the deal [15]. - The failed acquisition is seen as a significant victory for Paramount Skydance, which aims to consolidate its media and programming assets, including a studio and streaming service [7][10].