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Netflix submits amended all-cash offer for Warner Bros, wins board support
Netflix's all-cash $27.75 per share bid for Warner Bros. Discovery wins unanimous board approval to speed shareholder vote and reduce deal uncertainty, valued at $82.7 billion.
- On January 20, Netflix submitted an amended all-cash offer for Warner Bros. Discovery and won unanimous WBD board approval, keeping the transaction's enterprise value at $82.7 billion.
- To remove stock-price variability, Netflix shifted the prior cash-and-stock deal to all-cash, matching Paramount Skydance's 100% cash offer and speeding a WBD stockholder vote by April 2026.
- Netflix said it will fund the deal with cash on hand, credit facilities and committed financing, and the revised pact keeps breakup fees at $2.8 billion and $5.8 billion.
- WBD filed a preliminary proxy to enable a shareholder vote by April 2026 and disclosed Discovery Global valuations, while Netflix shares have fallen almost 15% since Dec 5, closing at $88 on Friday.
- Paramount Skydance is pursuing a hostile $30-per-share bid, has sued WBD, and plans a proxy fight amid ongoing regulatory review, with a combined company debt of 85 billion.
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Next step in the bidder battle for Warner Bros.: Netflix no longer wants to buy with the help of its own shares, but wants to pay the entire amount monetaryly.
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Netflix switched to a totally cash offer for Warner Bros Discovery's streaming studios and businesses with the unanimous support of HBO's owner's board of directors, without increasing the price of $82.7 billion, in an effort to shut the door to his rival Paramount's efforts. Both Netflix and the studio operator Paramount covet Warner Bros for their film and television studios, their extensive content library and their great franchises such as "…
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Leaning Left26Leaning Right14Center42Last UpdatedBias Distribution51% Center
Bias Distribution
- 51% of the sources are Center
51% Center
L 32%
C 51%
R 17%
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