Netflix Shifts to All Cash Warner Bros Discovery Offer Amid Earnings Beat and Stock Decline
Netflix revised its bid for Warner Bros Discovery to an all-cash $82.7 billion offer. Despite beating Q4 earnings, shares fell on financing and guidance.
Insights:
Netflix Inc. announced a significant amendment to its merger agreement with Warner Bros. Discovery Inc. on January 20, 2026, pivoting to an all-cash offer of $27.75 per share. This revised proposal brings the total value of the acquisition to $82.7 billion. To support the shift to all-cash terms, Netflix Inc.increased its bridge loan commitment by $8.2 billion on Monday, reaching a total of $67.2 billion. Previously, Netflix Inc.had obtained commitments for a $59 billion bridge loan on December 4, 2025. Co-chief executive officers Ted Sarandos ted sarandosand Greg Peters greg petersnoted that the amended agreement will enable an expedited timeline to a stockholder vote.
