Posted on 2/27/126 by Colin Vassallo
WWE’s media partner Netflix has dropped out of the race to
buy Warner Bros. after a seemingly done deal following a new
and improved bid from Paramount Skydance.
Netflix bid to take over Warner Bros. and its HBO Max
streaming service and intellectual property rights, leaving
Discovery and its channels such as TNT, TBS, CNN, and more
to be spun off in a new company.
But Paramount Skydance submitted a new, higher bid, a bid
which Warner Bros. Discovery said it was superior. Netflix
has refused to match or present a better offer, with Netflix
co-CEOs saying that the deal is no longer financially
attractive.
The sale has implications to a certain extent for AEW, which
airs on TNT and TBS as well as on HBO Max. Warner Bros.
Discovery also owns a stake in the company.
TKO Group already has a partnership with Paramount Skydance,
with the UFC airing on Paramount+ in a multi-billion dollar
deal.