Netflix walked away from the deal to buy Warner Brothers, leaving Paramount Skydance, headed by CEO David Ellison, as the remaining bidder to take control of the iconic media giant. Netflix said Thursday it would not submit a higher offer for Warner Bros. Discovery after the company’s board described Paramount-Skydance’s latest offer as “superior, reports NBC News.
Paramount’s bid was for the entire company, while Netflix was seeking to acquire only its streaming service, HBO cable channel, and film studio business. The deal Paramount offered made it unattractive for Netflix.
According to Deadline, Netflix walks away with a $2.8 billion breakup fee. Paramount will pay the fee.
NBC reports:
Paramount’s updated offer, released Tuesday, raised the purchase price to $31 a share from $30 — a deal that would value Warner Bros. Discovery at roughly $77 billion. The proposal also included a $7 billion reverse termination fee if regulators block the deal, along with reimbursement for Warner Bros. Discovery’s potential cost to cancel its deal with Netflix.
Including Warner Bros. Discovery’s debt, the takeover bid comes to a grand total of more than $110 billion.
What happens to CNN? They keep doubling down on failure, as the ratings reflect, but they still show a $600 million profit, although it’s down from $1 billion. There has been talk of folding CNN into CBS, but CBS is heavily unionized, and CNN allegedly isn’t, according to CNN.
Ellison wants the news media to move from left-leaning to right-leaning, hanging somewhere around the center. He wants fairness. That doesn’t describe CNN and most of its high-priced on-air talent.
There is panic at CNN, a fake news site.
Watch the brief clip with a delusional Brian Stelter:
Panic at CNN over Paramount deal:
Brian Stelter quotes Ellison saying Americans want “news that is balanced and fact-based.”
Stelter: “Wolf, that sure sounds a lot like CNN!” pic.twitter.com/5O6t2uMzGX
— Western Lensman (@WesternLensman) February 27, 2026
Not everyone is delusional.
The Wrap report:
Oliver Darcy: “While the move all but guarantees brutal layoffs across the company, it landed like a meteor at Hudson Yards. Inside CNN, alarm bells went off as staffers began to panic over the suddenly very real prospect that they could be working for Bari Weiss before the end of the year.”
Said one insider: ‘The panic at CNN right now is off the charts.”
“At this stage, CNN staffers have every reason to be worried about the future. What is unfolding is plain as day. Trump, who has despised CNN more than any other institution throughout his political career, wants to neuter the network. He wants to break it. And that is precisely why his administration did everything it could to tilt the scales against Netflix and in Ellison’s favor.“
Some do have to worry. Jake Tapper almost never tells the truth, and some of the guests and contributors are certifiable. However, Ellison isn’t going to fire everyone out of vengeance. He is looking for fairness.
If CNN kept the “news” neutral, there would be no panic
If they hadn’t turned away so many viewers with their one sided takes they would be fine
They haven’t done that, so now it’s Scott Jennings turn to take the reins pic.twitter.com/W6JY6TkH4O
— SovereignTBag (@SovereignTBag) February 27, 2026
