We believe we would have been strong stewards of Warner Bros.' iconic brands. But this transaction was always a 'nice to have' at the right price, not a 'must have' at any price. Netflix's co-CEOs Ted Sarandos and Greg Peters explained their decision to withdraw, emphasizing that while they valued the opportunity, the financial terms no longer justified proceeding with the acquisition.
The US media and entertainment giant Paramount Skydance has won the auction for the rights to broadcast most Champions League matches in the UK from 2027 to 2031 in a major shake-up of the domestic rights market. The Guardian has learned that Paramount, whose subsidiary company Paramount+ owns the rights for Champions League games in the US, made the largest bid in this week's auction and an announcement is due.