The Globe and Mail reports in its Friday, Feb. 27, edition that Paramount Skydance is poised to acquire Warner Bros. Discovery after Netflix declined to raise its bid for the studio. A Reuters dispatch to The Globe reports that Netflix said the price to match Paramount Skydance's latest offer is no longer financially attractive. Netflix confirmed to Reuters that it was walking away from bidding for Warner Bros. The Warner Bros. board still has to terminate the Netflix deal and adopt Paramount's offer. On Thursday, Warner Bros. said Paramount's revised $31 (U.S.)-a-share offer was superior to its existing deal with Netflix, which had offered $27.75 (U.S.) a share for Warner Bros.' streaming and studio assets. A Netflix adviser, speaking anonymously, advised the streaming service to withdraw from the bidding, saying it no longer made economic sense. The adviser noted that Netflix was competing against a billionaire willing to pay an irrational price for Warner Bros. "There's no point in playing chicken with someone who won't turn the wheel," the source said, referring to billionaire Larry Ellison, co-founder and chief technology officer of Oracle and father of Paramount chief executive officer David Ellison.