Netflix drops bid for Warner Bros.
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Tom Cruise has seemingly saved Hollywood again following his involvement in thwarting Netflix's takeover of Warner Bros.
In a stunning move, the streaming giant is walking away from the deal it struck in December after Paramount Skydance upped its bid.
Employees at the company had started to warm to the idea of Netflix as its corporate owner. Now they face the prospect of major cuts under Paramount.
Whatever specifically happens with CBS News should the Paramount/Warner Bros. merger go through, staffing changes are inevitable. It was previously reported that employees were expecting a “blood bath,” and those sentiments align with the f-bombs recently shared by other employees.