Netflix Restructures Warner Bros Discovery Bid to All-Cash Offer
Netflix shifts to an all-cash offer for Warner Bros Discovery at $27.75 per share, totaling $82.7 billion, with board approval, amid Paramount's competing bid.
Insights:
Netflix Inc. has made a significant move in its pursuit of Warner Bros Discovery Inc. by restructuring its acquisition proposal from a cash-and-stock bid to an all-cash offer. The revised bid, announced on January 20, 2026, offers $27.75 per share, valuing the transaction at $82.7 billion. This strategic shift has received unanimous support from Warner Bros Discovery's board of directors, providing a new level of financial certainty and aiming to expedite the shareholder vote.
The original proposal from Netflix included $23.25 in cash and $4.50 in Netflix stock per share. However, the all-cash structure is designed to accelerate the timeline for a shareholder vote, now expected by April 2026, and to offer greater financial assurance to Warner Bros Discovery shareholders. The competitive landscape has intensified with Paramount Global , led by David Ellison david ellison, presenting a rival offer of $30 per share in cash. Paramount's tender offer is set to expire on January 21, 2026, adding urgency to the decision-making process.
