Netflix backs out of bid for Warner Bros. Discovery, giving studios, HBO, and CNN to Ellison-owned Paramount

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In a one-two punch of centibillion-dollar offers, the bidding war for Warner Bros. Discovery is over. David Ellison-owned Paramount will acquire Warner Bros. Discovery. Netflix has lost.

Plus, Plaid valued at $8B in employee share sale. The new valuation is a 31% increase from $6.1 billion Plaid reached in April.

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OpenAI will start watermarking ChatGPT’s text in the EU; plus, Lucid Motors’ EV output falls to lowest level in almost 2 years

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