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Warner Bros Discovery has announced that its shareholders are slated to vote on the monumental $110 billion merger with Paramount Skydance on April 23, representing a significant advancement in the media industry.
Netflix has decided to withdraw its bid to acquire Warner Bros. Discovery after a larger offer of $111 billion was made by Paramount Skydance. As part of this exit, Netflix will collect a breakup fee of $2.8 billion.
Warner Bros. Discovery is contemplating a potential revival of merger talks with Paramount Skydance Corp. in light of new acquisition bids, as they navigate shareholder demands and regulatory considerations.
Netflix has escalated its efforts to acquire Warner Bros Discovery with a substantial $82.7 billion cash offer, increasing pressure on Paramount as the shareholder vote approaches.
