Part 4/11:
According to Greenfield, the bid from Netflix needed to increase significantly—possibly by around $3 per share—to match what Paramount was willing to accept, particularly factoring in the ticking fee applied to the deal, which heightened the urgency for a swift resolution. The board appeared to demand more than a modest increase, which likely contributed to Netflix's decision to exit, sensing that the leverage or cash infusion wouldn’t meet their expectations or strategic needs.