Netflix Lost. Netflix Won. Film at 11.
(NASDAQ: NFLX) has officially ended its bid to acquire the studio and streaming operations of Warner Bros. Discovery (NASDAQ: WBD). The target company had a week to think about a raised bid from Paramount Skydance (NASDAQ: PSKY), and came back leaning toward a Paramount deal in half that time.
Pending regulatory approval, it's a done deal. Netflix shares opened Friday's trading 11.6% higher on the news. Warner Bros. stock fell by roughly 2% and Paramount soared more than 18% higher. Combined, the three stocks added approximately $40 billion of market value today.
Was this the best outcome for Netflix? Maybe not from an industry domination perspective, but it certainly puts Netflix in a less stressful financial situation.
Source Fool.com
Netflix Inc. Stock
€82.66
-9.560%
The stock is one of the favorites of our community with 137 Buy predictions and 1 Sell predictions.
With a target price of 110 € there is a positive potential of 33.08% for Netflix Inc. compared to the current price of 82.66 €.
