Netflix Exits Warner Bros Bid as Paramount Wins with Gulf Funding

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Netflix co-CEOs Ted Sarandos and Greg Peters abandoned their $111B bid for Warner Bros. Discovery after David Ellison and Paramount Skydance secured a superior $83B deal.The winning Paramount offer includes $24B in financing from Saudi Arabia, Qatar, and Abu Dhabi, placing CNN and HBO under the control of the Ellison family.Senator Elizabeth Warren and Senator Cory Booker raised antitrust concerns after Ted Sarandos met with Donald Trump officials while Republicans attacked Netflix for "woke content."Netflix shares surged 10% following the withdrawal as the company pivoted toward a $20B content investment and David Zaslav prepared for the transition.
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