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

TechCrunch

by Graham Starr

February 26, 2026

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.

Verticals

techstartups

Originally published on TechCrunch on 2/26/2026