"We believe we would have been strong stewards of Warner Bros iconic brands, Netflix's co-CEOs Ted Sarandos and Greg Peters said in a joint statement. But this transaction was always a 'nice to have' at the right price, not a 'must have' at any price."
"The latest move is a tick in the box for discipline, said Ben Barringer, head of technology research at Quilter Cheviot. What you want from a management team is an ability to look at acquisitions, value them, pay what they think is a fair price, but to not overpay."
"Netflix's decision on Thursday evening that it would not match Paramount's latest $31 per share bid or raise its offer of $27.75 a share for Warner Bros's studio and streaming assets, stating that the deal was no longer financially attractive."
Netflix decided not to raise its $27.75 per share offer for Warner Bros Discovery's studio and streaming assets after Paramount increased its bid to $31 per share. Netflix responded within two hours to Warner's four-day deadline, stating the deal was no longer financially attractive at the higher price. Co-CEOs Ted Sarandos and Greg Peters emphasized the acquisition was desirable at the right price but not essential at any cost. Investors responded positively, with Netflix stock jumping over 10 percent on the news. Analysts praised the decision as demonstrating management discipline and a commitment to fair valuation rather than overpaying. The withdrawal allows Netflix to refocus on its core business operations.
#netflix-acquisition-strategy #warner-bros-bidding-war #corporate-valuation-discipline #streaming-industry-consolidation
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