CNBC Daily Open: Netflix bows out from Warner Bros. Discovery bidding war

In the latest plot twist of the high-stakes bidding war for Warner Bros. Discovery, Netflix said Thursday it would not increase a counteroffer for the company's studio and streaming assets, effectively clearing the way for Paramount Skydance's revised bid to take center stage. That comes after the WBD board deemed Paramount's revised all-cash bid earlier this week of $31 per share, up from $30 per share, to be a superior offer to acquire the entire company.Netflix had four business days to revise its bid in ...