Netflix has revised its offer for Warner Bros Discovery, switching to an all-cash bid valued at 27.75 per share without increasing the overall 82.7 billion price, as it moves to shut out rival interest from Paramount Skydance.
The updated offer, disclosed in a regulatory filing on Tuesday, has received unanimous backing from the Warner Bros Discovery board. Netflix said the all-cash structure would allow for a faster shareholder vote and provide greater financial certainty to investors.
Both Netflix and Paramount Skydance have been competing to acquire Warner Bros Discovery for its film and television studios, extensive content library and major franchises including , and DC Comics properties such as Batman and Superman. Paramount has argued that its bid is superior and has stepped up efforts to persuade shareholders, but Warner Bros Discovery has continued to favour Netflix's proposal.
