US EditionNetflix submits amended all-cash offer for Warner Bros, wins board support
Netflix's revised $27.75-per-share all-cash offer removes stock-price risk and aims to accelerate shareholder voting, with unanimous Warner Bros. Discovery board support.
- 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.
258 Articles
258 Articles
How the Netflix-Warner Bros. mega-deal happened
Netflix will pay for Warner Bros. Discovery's streaming and studio division entirely in cash to edge out its rival Paramount — the latest chapter in a months-long saga that, once concluded, could significantly change the global entertainment industry.
Netflix has revised its takeover offer for Warner Bros Discovery, which means another setback for the film studio operator Paramount Skydance.
The results are strong, but the outlook is chilling the markets, against the backdrop of several billions of dollars in battle for the takeover of Warner. ...
Netflix originally wanted to pay only part of its acquisition of Warner Bros. Discovery in cash. But this week, the world's largest streaming service changed its plans. It is now offering payment exclusively in cash. According to media reports, this is an effort to speed up the process, increase pressure on competitors and bring the deal to a close faster.
The Billings Gazette
Netflix intensifies bid for Warner Bros.
Netflix is now offering to buy Warner Bros. Discovery's studio and streaming business in all cash — in an effort to win over the Hollywood giant's shareholders for its $72 billion merger and potentially thwart a hostile bid from Skydance-owned…
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