Netflix has revised its bid for Warner Bros. Discovery (WBD), offering an all‑cash deal to match Paramount’s hostile offer. The WBD board has approved Netflix’s $27.75 per share proposal, converting $4.50 in stock into cash to provide greater certainty for shareholders.
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Netflix Revises Warner Bros Deal
Paramount, led by David Ellison, insists its $30 per share all‑cash bid is superior and has sued WBD while seeking board seats. The key dispute centers on the value of WBD’s cable networks, which Paramount wants but Netflix excludes. Analysts value the networks between $1.20 and $3.51 per share, strengthening Netflix’s case. Paramount may need to raise its offer.
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