Netflix has revised its bid for Warner Bros Discovery’s streaming and film business, confirming that it will fund the deal entirely in cash. The move appears aimed at strengthening its position against a rival takeover attempt from Paramount Skydance.
The updated offer replaces Netflix’s earlier proposal, which included a mix of cash and shares. In a joint statement, Netflix and Warner Bros said the all-cash structure offers greater certainty to shareholders and could allow the deal to be approved more quickly.
The change comes as Paramount Skydance continues to push its own bid for Warner Bros, despite repeated rejections. Netflix’s proposal would give the streaming giant control of Warner Bros’ extensive content library, including major franchises such as Harry Potter and Game of Thrones, along with the HBO Max streaming service.
Netflix has maintained its offer price of $27.75 per share for the streaming and film businesses, valuing that part of the company at around $72bn. Including debt, the overall enterprise value is estimated at about $82bn.
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