Why Did Netflix Cancel Its Marvel Shows?

On Monday, Netflix revealed that it officially canceled all of its Marvel series.
Comicbook.com reports **The Punisher** and **Jessica Jones** were the final two to get the ax.
**Iron Fist**, **Luke Cage**, **Daredevil** and **The Defenders** were all canceled at the end of last year.
Netflix never revealed why it decided to cancel its Marvel series.
The Hollywood Reporter, however, published its assumption.
"Put simply: Netflix did not have an ownership stake in any of its Marvel TV series.