NEW YORK, Feb 28 — Shares of Netflix surged around nine per cent early yesterday as the streaming giant ended a takeover battle for Warner Bros. Discovery after rival Paramount Skydance raised its bid.

About 10 minutes into trading, Netflix shares were up 8.6 per cent at US$91.87 (RM357). On Thursday, Netflix said it was withdrawing from the bidding, saying it didn’t want to overpay for the assets. Netflix will receive a US$2.8 billion deal breakup fee. — AFP