Netflix Abandons Warner Acquisition Final Decision... Paramount SkyDance Seeks 159 Trillion Won

The Warner acquisition battle is shifting to Paramount's momentum.

The acquisition battle for Warner Brothers Discovery, currently the biggest topic in North American entertainment, is nearing its conclusion. Contrary to reports that the OTT platform Netflix was on the verge of acquisition, Paramount SkyDance (hereafter referred to as Paramount) has completely reversed the dynamics of the acquisition battle by presenting a new renegotiation proposal to Warner Brothers Discovery (hereafter referred to as Warner).

Since the end of February, Warner has been at the renegotiation table, accepting Paramount's conditions, and on February 26 (local time), informed Netflix to present a new negotiation proposal. In response, Netflix announced that it would abandon the acquisition, stating that it was no longer an attractive deal.

Paramount's acquisition amount for Warner is $111 billion. This amounts to approximately 159 trillion won. This is known to be the largest scale in terms of acquisitions related to entertainment companies worldwide, surpassing Hollywood. Previously, Netflix's acquisition amount for Warner was $83 billion (approximately 106 trillion won).