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LONDON, Jan 21 (Reuters) – Netflix shares listed in Frankfurt fell in early trade on Wednesday despite beating expectations for fourth quarter revenue and earnings, as the company remains locked in a fierce bidding war for Warner Bros Discovery.
Netflix also told investors it would pause share buybacks to accumulate cash to help fund the Warner deal. By 0714 GMT, shares were down 7%. The shares closed down 0.8% in Tuesday’s regular session. Netflix stock has lost some 20% in value since the company launched its bid for Warner Brothers in early December.
(Reporting by Samuel Indyk; Editing by Amanda Cooper)