Netflix Switches To All-Cash Bid For Warner Bros.
Deadline • • business
Key Points:
- Netflix has revised its Warner Bros. Discovery (WBD) acquisition offer to an all-cash deal valued at $27.75 per share, removing the previously included $4.50 Netflix stock component, maintaining the total valuation at $82.7 billion.
- The deal excludes Discovery Global, WBD’s cable networks division, which is set to be spun off within six to nine months before Netflix takes control of the studio and streaming segments.
- Paramount Skydance has launched a hostile bid for all of WBD, including the cable networks, and is pursuing legal action to obtain more information about WBD’s deal process, challenging Netflix’s proposal.
- Both Netflix and WBD boards unanimously approved the all-cash agreement,
