Last week, Netflix granted WBD a seven-day waiver to reengage with Paramount, resulting in the higher bid. Paramount's offer is for the entirety of WBD, including its pay-TV networks, such as CNN, TBS and TNT. Netflix had four business days to make changes to its own proposal in light of Paramount's superior bid, the WBD board said in a statement Thursday. Instead, the decision by the streaming giant to walk away puts a pin in a drawn-out saga that saw amended offers from both bidders.
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