Netflix, Paramount shares jump

Netflix jumped more than 9 per cent premarket on Friday as investors cheered its decision to exit the fight for Warner Bros Discovery, while Paramount rose about 10 per cent on winning the race for some of the world's most prized TV and film assets, reports Reuters.
The end of the months-long bidding war put the focus back on the significant antitrust scrutiny that the Paramount-Warner Bros tie-up would face in the US and Europe, including an active investigation in California. Warner Bros shares were marginally lower.
Paramount Skydance maintained its dogged pursuit of Warner Bros, launching a hostile campaign to wrest the prize from Netflix. It managed to lure Warner Bros back to the bargaining table last week.