Netflix’s stock surged approximately 8% following the termination of the $82.7 billion WBD-Paramount merger deal, as Paramount’s Skydance presented a more attractive bid of $31 per share. With this deal collapse, Netflix also secured a $2.8 billion termination fee, allowing it to resume stock buybacks and maintain a significant content spending budget of around $20 billion. The shift in focus from merger risks to Netflix’s capital discipline has attracted renewed retail trader activity, particularly with a spike in call volume.
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