arstechnica.com
Netflix has revised its $72 billion agreement to acquire Warner Bros. Discovery, shifting from a cash-and-stock offer to an all-cash deal at $27.75 per share. This move aims to “simplify” the transaction and provide more certainty to Warner Bros. shareholders while accelerating an April 2026 vote.
The updated offer is designed to deter a competing, higher-priced hostile takeover bid from Paramount Skydance. Paramount’s proposal would prevent Warner Bros. from spinning off its cable TV division—a key part of the current plan. To proceed with Netflix, the cable assets must be spun off as Discovery Global before the sale closes. Netflix intends to fund the purchase using its cash reserves and credit facilities.
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