Netflix actually won by walking away from the WBD bid, collecting a $2.8B termination fee and driving up the price and debt load of the Paramount-WBD merger (Dan Gallagher/Wall Street Journal)

Dan Gallagher / Wall Street Journal:
Netflix actually won by walking away from the WBD bid, collecting a $2.8B termination fee and driving up the price and debt load of the Paramount-WBD merger  —  King of streaming preserves its business model, while Paramount will have to deal with a massive debt load

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