Netflix has dropped out of the bidding war for Warner Bros. Discovery (WBD), making Paramount Skydance the expected owner of WBD. A Paramount-WBD merger remains subject to regulatory approval, but it’s likely that we will see a Paramount-Skydance-Warner-Bros.-Discovery media giant.
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Paramount's offer initially included financing from Jared Kushner's investment firm Affinity Partners, which he set up in 2021.