Searxng/Netflix CEO TV Netflix exits Warner Bros. bidding, sending its stock soaring 9%. Paramount gains as the media merger saga takes a dramatic new turn. March 9, 2026 AceShowbiz - Hollywood and Wall Street were taken aback by the rapid developments late Thursday in the ongoing Warner Bros. Discovery merger saga. As the dust settled, initial responses emerged regarding Netflix stepping back from its pursuit of the Warner assets, effectively conceding to Paramount. Investor sentiment quickly surfaced in after-hours trading, with Netflix shares soaring 9% following the announcement.