Netflix Revamps Its Warner Bros. Bid, Seeking to Thwart Paramount
The New York Times • • business
Key Points:
- Netflix has revised its December offer to acquire major parts of Warner Bros. Discovery, responding to competition from Paramount and its CEO David Ellison.
- The original $83 billion deal involved a combination of cash and stock, but Netflix's updated offer is now exclusively in cash, aiming to simplify the transaction for investors.
- Warner Bros. Discovery CEO David Zaslav expressed optimism that the revised agreement brings the companies closer to merging two leading storytelling entities.
- Netflix co-CEO Ted Sarandos highlighted that the all-cash offer provides greater financial certainty for Warner Bros. Discovery shareholders.
