Shares of Netflix (NASDAQ: NFLX) fell more than 3% on Monday after Paramount Skydance (NASDAQ: PSKY) intensified its pursuit of Warner Bros Discovery (NASDAQ: WBD).

Image source: Netflix.

On Friday, Netflix announced it had struck a deal to acquire Warner Bros Discovery's film and television studios, as well as its popular HBO Max streaming service, for $82.7 billion, or $27.75 per share, in cash and stock.

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Source Fool.com