Zhi Tong Cai Jing·2026-02-27 01:48Group 1 - Paramount Global increased its offer to acquire Warner Bros. Discovery from $30 to $31 per share, prompting Netflix to withdraw from the bidding war [1][2] - Netflix stated that matching Paramount's latest offer would no longer be financially attractive, leading to its decision to exit the acquisition process [1] - Following the announcement, Netflix shares rose over 9% in after-hours trading, while Paramount's shares increased by more than 6% [1] Group 2 - Warner Bros. Discovery's board indicated that Paramount's new acquisition proposal, totaling $111 billion, is more favorable for shareholders compared to the earlier agreement with Netflix [2] - David Zaslav, CEO of Warner Bros. Discovery, expressed excitement about the potential value creation from the merger with Paramount [2] - Netflix provided a seven-day waiver for Warner Bros. Discovery to negotiate with Paramount, aiming to ensure shareholders received clearer information [2] Group 3 - Netflix's co-CEOs acknowledged Warner Bros. Discovery as a world-class institution and appreciated the fair process executed by its board [3] - They emphasized that their potential acquisition was seen as an enhancement rather than a necessity at any cost [3]