Netflix jumped more than 9% on Friday as investors applauded its decision to exit the race for Warner Bros Discovery, a months-long bidding war with Paramount Skydance for some of Hollywood's most prized assets. ADVERTISEMENTThe decision was welcomed by investors as shares of the streaming giant had shed more than 18% since it announced its deal with Warner Bros on December 5. A tie-up with Warner Bros would allow Paramount's storied Hollywood studio to tap into Warner's deep trove of intellectual property -including franchises such as "Fantastic Beasts" and "The Matrix" - across film, television and streaming. For Paramount's streaming unit, a combination with HBO Max and Discovery+ would reshape its position in a streaming era long dominated by Netflix. "Paramount was the streaming market laggard, and it needs Warner Bros' content and capabilities to play catch-up.

Source: The Telegraph February 27, 2026 15:26 UTC