Last mentioned: Feb 27, 2026
Withdrawal
Netflix officially notifies WBD and regulators that it is pulling out of the purchase agreement.
Valuation Gap
Reports emerge of a significant gap between Netflix's offer and WBD's board expectations.
D.C. Lobbying
Netflix CEO travels to Washington to personally save the deal from regulatory blocks.
Due Diligence
Netflix begins formal due diligence process to evaluate WBD's debt and linear asset value.
WBD Deal Rumors
Reports surface of a deep strategic partnership between Netflix and Warner Bros. Discovery.
Initial Reports
Rumors of preliminary talks between Netflix and WBD leadership surface in trade publications.
Ad-Tech Independence
Netflix announces it will build its own in-house ad-tech platform to reduce reliance on Microsoft.
WWE Partnership
Netflix secures a 10-year, $5B deal for WWE Raw, signaling a major pivot to live content.
Ad Tier Launch
Netflix officially enters the advertising market with its 'Basic with Ads' tier.
Netflix has officially withdrawn its bid to acquire Warner Bros. Discovery, ending months of speculation regarding a massive consolidation in the media landscape. The decision marks a strategic pivot for Netflix, prioritizing organic growth and its burgeoning ad-supported tier over high-stakes, debt-heavy M&A.
Netflix leadership has initiated high-stakes meetings with federal regulators in Washington to preserve a critical strategic agreement with Warner Bros. Discovery. The deal, which could reshape the CTV advertising landscape, faces mounting antitrust scrutiny as the two giants seek to consolidate their market influence.
Netflix Co-CEO Ted Sarandos has launched an emergency lobbying effort in Washington to save the company's proposed acquisition of Warner Bros. Discovery. The deal is currently besieged by a Department of Justice probe, opposition from 11 state attorneys general, and a competing 'superior' bid from Paramount-Skydance.