Netflix drops bid for Warner Bros. Discovery, paving the way for Paramount Skydance deal

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Netflix announced it is dropping its bid for Warner Bros. Discovery, which paves the way for Paramount Skydance, the parent company of CBS News, to acquire it instead. The merger would require approval from Warner Bros. shareholders and federal regulators.

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Netflix drops bid for Warner Bros. Discovery, paving the way for Paramount Skydance deal

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