Netflix Withdrew $82.7 B Bid After Paramount’s $31-Per-Share Offer
Netflix’s revenue climbed between 4.5–5 times over the past decade, making it a leading performer alongside Broadcom as Chinese tech stocks stagnated under offshore “Cayman shell” structures. Netflix also withdrew its $82.7 billion bid for Warner Bros. Discovery after Paramount Skydance won board approval with a $31-per-share offer backed by Larry Ellison.
1. Burry Highlights Cayman Shell Risks
Michael Burry warned that most major Chinese tech stocks trade through offshore Cayman shell entities with no operational link, creating a legal disconnect between corporate performance and investor claims. He cited Netflix’s ten-year revenue surge of roughly 4.5–5× as an example of a company whose stock gains align with its underlying growth.
2. Bidding War Ends with Paramount Victory
Netflix withdrew its $82.7 billion offer for Warner Bros. Discovery after the board deemed Paramount Skydance’s $31-per-share proposal superior. Paramount secured the deal with a $40.4 billion guarantee from Larry Ellison, ending the months-long bidding contest that included Comcast and Netflix offers.