Netflix Boosts Bid to Acquire Warner Bros Discovery with All-Cash Offer as Paramount Makes Hostile Move
In a move to simplify its deal and provide greater financial certainty, Netflix has sweetened its $82.7 billion (£61.5 billion) bid for the studios and streaming businesses of Warner Bros Discovery (WBD). The all-cash offer keeps the same valuation as the original proposal, which was secured by the WBD board last month.
The revised deal would enable WBD investors to vote on the proposed acquisition as early as April, with Netflix expecting to complete the transaction sooner. This change has been welcomed by Ted Sarandos, co-chief executive of the streaming giant, who said it would provide "greater certainty of value for WBD stockholders" and accelerate the path to a shareholder vote.
As part of the deal, investors in WBD will receive shares in its global networks operation, including CNN, Cartoon Network, and Discovery Channel. However, Netflix is not acquiring these assets, which are being spun off as a separate company.
Meanwhile, Paramount Skydance has continued its hostile bid for WBD, valuing the business at $108.4 billion. The studio plans to nominate directors to WBD's board to vote against the approval of the Netflix deal and has filed a lawsuit seeking disclosure of financial information related to the agreement.
However, a Delaware court rejected Paramount's lawsuit on Thursday, allowing the two companies to proceed with their respective bids. If successful, Paramount would have control over WBD's prized assets, including Warner Bros studios behind popular franchises like Harry Potter, Superman, and Batman, as well as HBO home to hit shows like Game of Thrones.
The Netflix deal, however, appears more certain, with Sarandos expressing confidence that it will deliver the best outcome for shareholders, consumers, creators, and the broader entertainment community. The streaming giant's latest quarterly earnings showed a surge in subscribers, bolstered by the return of hit shows, and has set a revenue forecast of between $50.7 billion and $51.7 billion for 2026.
With these developments, the battle for control of WBD is heating up. As the two companies vie for dominance, investors will be watching closely to see which bid emerges victorious.
In a move to simplify its deal and provide greater financial certainty, Netflix has sweetened its $82.7 billion (£61.5 billion) bid for the studios and streaming businesses of Warner Bros Discovery (WBD). The all-cash offer keeps the same valuation as the original proposal, which was secured by the WBD board last month.
The revised deal would enable WBD investors to vote on the proposed acquisition as early as April, with Netflix expecting to complete the transaction sooner. This change has been welcomed by Ted Sarandos, co-chief executive of the streaming giant, who said it would provide "greater certainty of value for WBD stockholders" and accelerate the path to a shareholder vote.
As part of the deal, investors in WBD will receive shares in its global networks operation, including CNN, Cartoon Network, and Discovery Channel. However, Netflix is not acquiring these assets, which are being spun off as a separate company.
Meanwhile, Paramount Skydance has continued its hostile bid for WBD, valuing the business at $108.4 billion. The studio plans to nominate directors to WBD's board to vote against the approval of the Netflix deal and has filed a lawsuit seeking disclosure of financial information related to the agreement.
However, a Delaware court rejected Paramount's lawsuit on Thursday, allowing the two companies to proceed with their respective bids. If successful, Paramount would have control over WBD's prized assets, including Warner Bros studios behind popular franchises like Harry Potter, Superman, and Batman, as well as HBO home to hit shows like Game of Thrones.
The Netflix deal, however, appears more certain, with Sarandos expressing confidence that it will deliver the best outcome for shareholders, consumers, creators, and the broader entertainment community. The streaming giant's latest quarterly earnings showed a surge in subscribers, bolstered by the return of hit shows, and has set a revenue forecast of between $50.7 billion and $51.7 billion for 2026.
With these developments, the battle for control of WBD is heating up. As the two companies vie for dominance, investors will be watching closely to see which bid emerges victorious.
- all-cash offer and simplifying the deal is a genius way to get WBD investors on board 
. I mean, Ted Sarandos is right, it does provide greater certainty of value for those shareholders 
. And let's be real, who wouldn't want to join forces with Netflix at this point? They're killing it with new shows and subscribers are flocking back 
. But Paramount Skydance thinks they can just swoop in and steal WBD's assets? Please, I don't think so 
. The Delaware court shutting down their lawsuit is a major win for Netflix 
.
So this is what happens when you try to muscle in on a giant... like Netflix 
. Paramount thinks they can take down Netflix with their $108 billion offer? 
Please, that's just gonna end badly for them. I mean, don't get me wrong, WBD has some awesome assets, but have you seen the subscriber numbers Netflix is crushing lately? 
You think that's gonna work on WBD investors? They're not born yesterday... or in this case, April 
like what's going on with warner bros discovery and netflix? first one sweetens their offer and then paramount comes out of nowhere trying to sabotage it 
meanwhile sarandos is just over here being the calm and collected CEO 
but for real though, if paramount gets its way they'll have total control over wbd's assets and that's a big deal 
. That's what this whole deal should be about – creating value in a way that uplifts everyone involved 
.
at least the all-cash offer is a good thing for wbd investors 
. hope it doesn't come down to a shareholder vote