Netflix Shares Soar 10% After Exiting Warner Bros. Discovery Bid

• Netflix Inc. shares jumped 10% in after-hours trading after opting out of the deal to acquire Warner Bros. Discovery.
• Warner Bros. Discovery's board deemed Paramount Skydance's revised bid superior, leading Netflix to withdraw.
• Paramount increased its offer to $31 per share, up from $30, after Netflix granted a waiver for re-engagement.
• Netflix Co-CEOs stated the deal was no longer financially attractive at the price required to match Paramount Skydance's latest offer.
• Paramount's bid includes WBD's pay TV networks CNN, TBS, and TNT, along with significant breakup fees.