Netflix actually won by walking away from the WBD bid, collecting a $2.8B termination fee and driving up the price and debt load of the Paramount-WBD merger
A smart call and win for shareholders.Daniel Strauss /@danielstrauss:“Substantial layoffs seem certain, but cost cutting alone won't make the operation into the sort of entertainment powerhouse that can better compete with the likes of Netflix and Disney.”See also Mediagazer
Netflix's stock was up +14% on Friday after bowing out of the bidding war for Warner Bros. The company will get a $2.8B breakup fee and won't have to deal with a bunch of antitrust headaches or distractions about releasing movies in theaters. — A smart call and win for sharehol…
“Substantial layoffs seem certain, but cost cutting alone won't make the operation into the sort of entertainment powerhouse that can better compete with the likes of Netflix and Disney.”