Netflix Inc. just won by losing. Shares of the streaming industry leader rose as much as 12% in New York Friday after the company announced it was dropping out of the fight to buy Warner Bros.

For more than two decades, Netflix has paired technology with artistry to help great films and shows find their audience,” the company said in announcing the deal.

To continue reading this content, please enable JavaScript in your browser settings and refresh this page. Preview this article 1 min The $72 billion Warner Bros ...

(Bloomberg) — Netflix Inc. has told management of Warner Bros. Discovery Inc. that it will keep releasing the studio’s films in theaters if it’s successful in buying the company, people familiar with ...