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The decisive bid was reportedly $31 per share, complemented by additional incentives, tipping the scales in Paramount’s favor. Warner Brothers gave Netflix a mere four business days to decide whether they would match this offer. However, after careful consideration, Netflix declined to do so, citing the bid as “too rich” and “not financially attractive” at this stage.
The Aftermath and Industry Reactions
With Netflix stepping back, Paramount's victory seemed sealed. As Netflix’s co-CEOs Ted Sarandos and Greg Peters publicly stated, their decision stemmed from a disciplined assessment of costs versus value. They emphasized that the deal was always “a nice to have,” not an absolute necessity.