Nearly everyone in the world of media and entertainment was taken by surprise yesterday when Netflix announced they were withdrawing their proposed bid to acquire Warner Brothers film studio and its substantial catalogue of movies and intellectual properties. But last December, mere days after Netflix’s bid was announced to the world, I pointed out that it wasn’t a done deal at all:

Understand that this is all still quite contingent: Paramount Skydance (the product of another merger completed a few months ago) has appealed directly to Warner Bros. shareholders in a hostile bid to force them to overturn their board’s decision.

Understand that this is all still quite contingent: Paramount Skydance (the product of another merger completed a few months ago) has appealed directly to Warner Bros. shareholders in a hostile bid to force them to overturn their board’s decision.

© National Review