Netflix drops out of the WBD bidding war, paving the way for David Ellison's Paramount to buy it

Source: Business Insider

Warner Bros. has been the subject of a monthslong tug-of-war between Paramount and Netflix, which is led by co-CEO Ted Sarandos. Mario Tama/Getty Images; Chris Pizzello/APNetflix said on Thursday that it won't pay more for Warner Bros.