Karen Moscow

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Time now for the Bloomberg Sports Update, and we bring in John Stashower.

John.

Thanks, John.

And that's news when you want it with Bloomberg News Now.

I'm Karen Moscow.

And I'm Karen Moscow.

Well, staying overseas, John, Pakistan's defense minister declared, quote, open war with Afghanistan after both sides carried out cross-border strikes overnight that killed dozens.

The clash marks a major escalation in tensions between the two neighbors.

Relations between Pakistan and Afghanistan have steadily broken down in a year since the return of the Afghan Taliban in 2021 following the withdrawal of U.S.-led forces.

All right, Amy, thank you.

Let's turn to the markets now.

And Netflix has dropped out of the fight to buy Warner Brothers Discovery, clearing the way for rival bidder Paramount to clinch a $111 billion deal.

The streaming giant said while its offer would have passed muster with regulators and created shareholder value, it didn't want to keep bidding.

Lucas Shaw has been covering the takeover battle for Bloomberg.