Warner Bros. Discovery has confirmed its intention to reject Paramount Skydance’s acquisition proposal and instead pursue a deal with Netflix, despite the streaming service offering a lower price than Paramount’s bid.
This decision follows Netflix’s announcement on December 5 of an $82.7 billion acquisition of Warner Bros. Film Studio, which is expected to merge two major entertainment entities.
Industry experts have expressed concern that the transaction could result in fewer buyers for television series and films, potentially leading to a decline in employment within the film industry.
