Netflix stock price jumps 13% after Warner Bros bid exit; buybacks back in focus
Netflix shares surged 13.4% to $95.91 after the company withdrew its bid for Warner Bros Discovery assets, citing unattractive financial terms. Paramount Skydance secured a $110 billion deal with Warner, with Netflix set to receive a $2.8 billion breakup fee. Co-CEOs said Netflix will invest $20 billion in content and resume share buybacks. Investors await further details on capital returns and strategy.