Topline
Netflix on Tuesday announced it has revised its bid to acquire Warner Bros. Discovery’s studios and streaming business into an all-cash offer in an apparent effort to fend off Paramount Skydance’s hostile bid to acquire Warner.
Netflix’s modified bid now offers all WBD share holders $27.75 per share entirely in cash for Warner’s studio and streaming business.
Anadolu via Getty Images
Key Facts
In a press release, Netflix said its $83 billion cash-and-stock deal to acquire Warner’s studio and streaming business—including HBO Max—has been altered to an all-cash offer.
The streaming giant said this would offer “enhanced certainty” to Warner’s shareholders who no longer have to be concerned about Netflix’s fluctuating stock price.
The company said its revised offer will allow the deal to move faster, and it expects WBD shareholders to vote on it by April 2026.
Netflix’s original bid, which was approved by Warner’s board, offered each WBD shareholder $23.25 in cash and $4.50 worth of shares of Netflix common stock for each WBD stock they owned.
Under the revised terms, WBD’s shareholders will receive $27.75 per share they own in cash if the deal is approved.
This is a developing story.