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Outbyte Driver Updater FREEScan for outdated or missing drivers - takes under a minuteDriver Scan →Outbyte PC Repair FREEClear out junk files and repair common Windows errorsFree Scan →Netflix said it would not raise its offer because matching Paramount Skydance’s latest bid would make the acquisition “no longer financially attractive.” The company framed Warner Bros. as a worthwhile purchase at the right price—not a deal it had to win at any price.
What Netflix said about walking away
On February 26, 2026, Netflix co-CEOs Ted Sarandos and Greg Peters said the company was declining to match Paramount Skydance’s latest offer after Warner Bros. Discovery (WBD) told Netflix its board had deemed Paramount’s proposal a “Superior Proposal” under the existing merger agreement. Netflix’s stated reason was financial: “at the price required to match Paramount Skydance’s latest offer, the deal is no longer financially attractive, so we are declining to match the Paramount Skydance bid.” (Netflix’s February 26 statement)
| # | Preview | Product | Price | |
|---|---|---|---|---|
| 1 |
![Best of Warner Bros. 50 Film Collection (BD) [Blu-ray]](https://m.media-amazon.com/images/I/51qrQaTrIWL._SL160_.jpg)
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Best of Warner Bros. 50 Film Collection (BD) [Blu-ray] | $259.95 | Buy on Amazon |
| 2 |
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Venture Bros.: Radiant is the Blood of the Baboon Heart (Blu-ray) | $10.89 | Buy on Amazon |
| 3 |
|
Maverick (BD) | $11.99 | Buy on Amazon |
| 4 |
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Maltese Falcon, The (4K Ultra HD + Blu-ray) | $17.99 | Buy on Amazon |
| 5 |
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WB 100th 25Film Collection Vol 1 Award Winners (Blu-ray) | $199.00 | Buy on Amazon |
The executives also called the acquisition a “nice to have” at the right price, “not a ‘must have’ at any price.” That supports a straightforward reading: Netflix did not say it had lost interest in Warner Bros. altogether; it said the price needed to stay in the contest no longer made sense to it.
How the offers compared
The proposals were not bids for identical packages. Netflix’s offer targeted Warner Bros.’ film and television studios, HBO Max and HBO. Paramount Skydance’s proposal covered all of WBD. The Associated Press reported the following terms:
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| Offer | Reported price | Assets covered |
|---|---|---|
| Netflix | $27.75 per share; nearly $83 billion including debt | Warner Bros.’ studio and streaming business |
| Paramount Skydance | $31 per share; about $111 billion including debt | All of Warner Bros. Discovery |
(Associated Press report on the bids; Associated Press report on the competing proposals) These are reported transaction terms, not a like-for-like valuation of the same assets: Paramount’s offer covered a broader company. The higher per-share figure and the board’s superior-proposal determination put pressure on Netflix to decide whether to improve its offer, but the public statements do not reveal Netflix’s internal valuation ceiling.
Why “backed down” needs context
WBD reportedly gave Netflix four business days to submit a counteroffer. Netflix declined in less than two hours, according to the Associated Press. The short response does not, by itself, establish how long Netflix had considered the economics or what its private deliberations were; the company did not publish a full account of them. (Associated Press)
During the bidding contest, Netflix argued that its own transaction had a clear path to timely regulatory approval and criticized Paramount’s financing and regulatory exposure. Those were arguments for Netflix’s deal, not the reason it gave when withdrawing. In its February 26 statement, the stated reason was that matching Paramount’s price would make the transaction financially unattractive. (Netflix’s February 17 statement)
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What happened after Netflix withdrew
Netflix’s exit cleared the way for Paramount’s proposal to proceed, although shareholder and regulatory approvals were still outstanding at the time. In a later development, the U.S. Department of Justice said on June 12, 2026, that it had completed its review and concluded the Paramount-WBD transaction was not likely to harm competition or American consumers in the markets it examined. (Justice Department statement)
Rank #3
- Maverick [Blu-ray]
- PHYSICAL_MOVIE
- warner home video
The Associated Press reported that Paramount completed its takeover in October 2026. (Associated Press report on completion) Those later events describe what followed; they do not change Netflix’s stated explanation for walking away.
Quick Recap
Rank #4
- Item name: The Maltese Falcon
- Product type: PHYSICAL MOVIE
- Brand: WB
Product prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on Amazon at the time of purchase will apply.
