Netflix backs out of bid for Warner Bros. Discovery, giving studios, HBO, and CNN to Ellison-owned Paramount

In a one-two punch of centibillion-dollar offers, the bidding war for Warner Bros. Discovery is over. David Ellison-owned Paramount will acquire Warner Bros. Discovery. Netflix has lost. Plus, Plaid valued at $8B in employee share sale. The new valuation is a 31% increase from $6.1 billion Plaid reached in April. Learn more about your ad choices. Visit podcastchoices.com/adchoices