Tue, 20 Jan 2026

Tue, 20 Jan 2026 Netflix updates Warner Bros bid to all-cash offer

It is the latest skirmish in the bidding war over Warner Bros Discovery, which is also being pursued by Paramount Skydance.

* Netflix has updated its offer to buy Warner Bros Discovery's streaming and film business, switching from a mix of cash and shares to an all-cash deal.
* The revised offer values the enterprise at $82bn (£61bn), including debt.
* Warner Bros shareholders will receive shares in other parts of the company, including CNN, which are set to be spun off as a separate publicly traded company.
* Paramount Skydance continues to pursue its rival bid, offering $30 per share and arguing that its offer is superior due to its all-cash deal.
* Netflix's plan would give the streaming giant ownership of Warner Bros' rich library, including franchises like Harry Potter and Game of Thrones.
* The leadership at Warner Bros has stuck by Netflix for now, questioning how Paramount is financing its deal.
* Netflix shares have fallen more than 10% since the deal was announced last month, indicating investor disquiet about the plan.
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