Netflix Raises $83 Billion Cash Bid to Acquire Warner Bros., Aims to Outshine Paramount Skydance
Netflix has made a bold move in the entertainment industry, revising its $83 billion bid to acquire Warner Bros. Discovery’s studios and streaming assets into an all-cash offer. The streaming giant now proposes $27.75 per WBD share entirely in cash, including assets such as HBO Max. The strategic shift comes amid growing competition from Paramount Skydance, which launched a $108 billion hostile bid in December 2025.
The change from a cash-and-stock offer to an all-cash deal is designed to provide WBD shareholders with “enhanced certainty,” according to Netflix executives. By removing stock from the equation, Netflix aims to stabilize the value for investors, even as its own stock price fluctuates, and potentially speed up the timeline for shareholder approval, expected by April 2026.
Warner Bros. Discovery and Netflix executives framed the revised deal as a historic union of two major entertainment powerhouses. David Zaslav, President and CEO of WBD, said the agreement would combine “two of the greatest storytelling companies in the world,” ensuring that audiences worldwide continue enjoying Warner Bros.’ iconic stories for generations. Netflix co-CEO Ted Sarandos added that the merger would expand production capacity, boost investment in original content, and create jobs across the U.S. entertainment sector.
Paramount Skydance’s rival offer has complicated Netflix’s acquisition plans. While Paramount valued WBD at $30 per share, including a $40.65 billion equity offer backed by Larry Ellison, Warner’s board has urged shareholders to reject the proposal, citing Netflix’s deal as more reliable. The all-cash offer strengthens Netflix’s position in the race for WBD and underscores its commitment to acquiring one of the world’s most influential entertainment companies.
If approved, the merger will see Netflix acquire Warner Bros.’ TV and film studios, DC Studios, and streaming service HBO Max, while Discovery Global, which includes networks such as CNN, TNT, and Discovery Channel, will be spun off into a separate publicly traded company. The deal represents a major reshaping of the global media landscape, potentially redefining streaming, production, and content investment for years to come.
source: nairametrics