Netflix stock price rises along with Paramount while WBD falls. How the merger shakeup is impacting markets

"Yesterday, Warner Bros. Discovery said it has determined that a revised bid for its cinema and television properties from Paramount Skydance was a "superior proposal" to Netflix's long-standing offer of $82.7 billion. Paramount, which has been in a hostile bidding war with Netflix over the movie studio, issued a new proposal to Warner Bros. on Tuesday."

"That revised proposal saw Paramount offer roughly $111 billion for all of Warner Bros. Discovery's assets. To put those numbers on a per-share basis, it meant that while Netflix was offering roughly $27.75 per share, Paramount was offering $31."

"Netflix was looking to acquire only Warner Bros. Discovery's movie and streaming divisions, including the Warner Bros. film studio and HBO Max streaming service."

Netflix withdrew its acquisition bid for Warner Bros. Discovery after Paramount Skydance presented a superior offer valued at approximately $111 billion. Paramount's revised proposal offered $31 per share compared to Netflix's $27.75 per share. However, the bids targeted different assets: Netflix sought only Warner Bros. Discovery's cinema and television properties, including the Warner Bros. film studio and HBO Max streaming service, while Paramount's offer encompassed all of Warner Bros. Discovery's assets. The announcement triggered significant market reactions among investors in all three companies, creating substantial upheaval in both Hollywood and Wall Street.

Read at Fast Company