The streaming giant Netflix has backed out of the takeover battle for Warner Bros Discovery, leaving the way clear for Paramount.
Netflix had been the front-runner to buy out Warner’s studio and HBO Max streaming businesses, which are some of the most prized TV and film assets.
The end of the months-long bidding war put the focus back on the significant antitrust scrutiny that the Paramount-Warner Bros tie-up would face in the U.S. and Europe.
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