economy
January 20, 2026
Netflix sweetens Warner Bros bid with all-cash offer to block Paramount
Streaming company says proposal speeds up completion and allows WBD investors to vote as soon as April
TL;DR
- Netflix increased its offer for Warner Bros. Discovery to an all-cash deal worth $82.7bn.
- The revised offer aims to simplify the transaction and provide greater certainty of value for WBD stockholders.
- WBD investors will receive shares in the company's global networks operation, which is being spun off.
- Paramount Skydance is pursuing a separate, larger hostile takeover bid for WBD.
- Paramount has attempted to challenge the Netflix deal through legal action and by planning to nominate directors to WBD's board.
- A Delaware court rejected Paramount's lawsuit seeking financial information related to the Netflix agreement.
- WBD's board has rejected Paramount's bid, calling it a 'leveraged buyout' with risks.
- Both Netflix and Paramount Skydance have increased their termination fees as part of their respective deals.
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