Netflix (NFLX) Co-Chief Executive Officer Ted Sarandos told Bloomberg the company’s decision to drop out of the bidding from Warner Bros. Discovery (WBD) had been made earlier than announced and was based on various bidding scenarios the company worked out in advance, Lucas Shaw of Bloomberg reports. “We knew right away, when we got the notice on Thursday that they had a superior offer and the details of that deal,” Sarandos said, speaking of rival bidder Paramount Skydance (PSKY). “We knew exactly what we were going to do.”
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