Netflix backs out of bid for Warner Bros. Discovery, giving studios, HBO, and CNN to Ellison-owned Paramount Larry Ellison Media Media & Entertainment Mergers and Acquisitions Netflix Paramount Technology Warner Bros Discovery wbd Netflix backs out of bid for Warner Bros. Discovery, giving studios, HBO, and CNN to Ellison-owned Paramount Graham Starr February 26, 2026 In a one-two punch of centibillion-dollar offers, the bidding war for Warner Bros. Discovery is over. David... Read More Read more about Netflix backs out of bid for Warner Bros. Discovery, giving studios, HBO, and CNN to Ellison-owned Paramount