Netflix Stock Up 25% After Dropping $82.7B Warner Bros Discovery Bid
Netflix stock rose 25% over the past month after withdrawing a $82.7 billion bid for Warner Bros Discovery, while CEO Ted Sarandos stated neither the White House nor DOJ influenced the decision. Company had proposed acquiring studios and streaming assets at $27.75 per share, planning to spin off linear TV.
1. Netflix Withdraws $82.7B Warner Bros Bid
Netflix abandoned its proposal to acquire studios and streaming assets of Warner Bros Discovery at $27.75 per share, a deal valuing the business at roughly $82.7 billion. The plan included separating linear TV assets into a standalone public entity.
2. CEO Denies Political Interference
CEO Ted Sarandos stated that neither the White House nor the Department of Justice influenced Netflix’s decision to exit the bidding war, dispelling speculation linked to his meetings with government officials.
3. Stock Gains and Spin-Off Proposal
Shares rose 25% over the past month following the withdrawal announcement and remain buoyed by market expectations tied to the proposed spin-off of linear TV operations.