Netflix revises its offer for Warner Bros. Discovery to make it an all-cash transaction

January 20, 2026

TL;DR

Netflix revised its $72 billion offer for Warner Bros. Discovery to an all-cash transaction.
The revised offer is valued at $27.75 per share, with stockholders also receiving shares of Discovery Global.
This change simplifies the transaction and aims to speed up the shareholder vote.
The revised offer comes amidst a rival takeover attempt by Paramount Skydance.
Warner Bros. Discovery's board had previously rejected Paramount Skydance's bid.
Both Netflix and Warner Bros. Discovery boards have approved the amended all-cash deal.

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