Brian Stelter

Moments ago, Netflix said it is declining to raise its offer for the purpose for the purchase of Warner Brothers Studios and HBO following the Warner Brothers Discovery Board's determination that Paramount, which is not just going for.

Warner Brothers Studios and HBO, but also the whole enchilada, including us here at CNN.

Paramount has submitted a superior offer, according to Warner Brothers Discovery's board.

As I've noted, Warner Brothers Discovery is the parent company of CNN.

So let's get right to CNN chief media analyst Brian Stelter.

So let's start with the question.

He's fired up.

Why did Netflix walk away?

Ted Sarandos and others in Netflix made it very clear they really wanted Warner Brothers Studios and they really wanted HBO.

It's more complicated, but I do believe people dropping those subscriptions did make a difference.

Let's start from the premise that Disney always wanted to bring Kimmel back on the show.

It's not as if the executives who run Disney, like Bob Iger, the CEO, and his deputy Dana Walden, it's not like they're secret Trumpers who are big fans of MAGA media and want to turn ABC into Fox News.

That is far from the case.

All right, Bob Iger donates to Democrats.

He thought about running for president against Trump.

Dana Walden is known for being best buds with Kamala Harris.

These executives not only love Jimmy Kimmel personally, they are also politically in, I would say, some sort of sync with Jimmy Kimmel.

But they looked around, they react very quickly to pressure last week.

And that's what they did, right?

They reacted by pulling the show and they wanted to find a path forward.