Netflix revises its offer for Warner Bros. Discovery. Now, it’s all cash
CNN • • general
Key Points:
- Netflix has revised its offer to acquire Warner Bros. Discovery (WBD), now proposing an all-cash deal of $27.75 per WBD share for the company’s movie studio and streaming assets, aiming to counter Paramount’s hostile takeover bid.
- The deal involves splitting WBD into two separate publicly traded companies: Warner Bros. for movie and streaming assets, and Discovery Global for channels like CNN.
- Netflix’s all-cash offer simplifies the transaction, provides greater value certainty for WBD shareholders, and is expected to accelerate the shareholder vote, which WBD CEO David Zaslav anticipates will occur in the spring after SEC review.
- Paramount continues to pursue its $30 per share all-cash bid, has threatened
