Plot twist — Netflix ditches Warner Bros deal as insiders call imminent Paramount takeover a ‘gut punch’

• Netflix has abandoned plans to buy Warner Bros. Discovery
• This comes after Paramount made WBD a "superior offer"
• And after Donald Trump threatened Netflix over one of its board members

Netflix has conceded to Paramount in the duo’s fight over the purchase of Warner Bros. Discovery. It’s a twist no one was expecting.

Many had believed that after the WBD board declared Paramount’s newly revised $31 per share offer to be “superior” to what Netflix had on the table, Netflix would take the four-day window it had to revise its offer to return with an even higher bid. Instead, it pulled out entirely.

This means that Paramount is set to purchase Warner Bros. Discovery, that is, unless it is blocked by regulators – more on that in a moment.