Netflix has revised its $82.7bn bid for Warner Bros Discovery into an all-cash offer, aiming to speed approval and counter a hostile takeover attempt from Paramount Skydance.
The offer keeps the valuation at $27.75 per share but removes shares from the deal, giving WBD investors greater certainty and potentially enabling a shareholder vote as early as April. Netflix said the simplified structure strengthens its position as Paramount seeks to replace WBD board members to block the agreement.
WBD shareholders would still receive shares in a spun-off global networks business, including CNN and Discovery Channel, which Netflix is not acquiring. The WBD board continues to unanimously support the Netflix deal, warning that switching bids could trigger billions in additional costs.
