Warner Bros accepts revised all-cash Netflix $72B offer to sell it studios and streaming business

Warner Bros. Discovery has agreed to a revised all-cash proposal from Netflix, clearing the way for the sale of its studios and streaming operations at a price of $27.75 per share, as per reports.

According to reports, the updated agreement, valued at about $72 billion, replaces Netflix’s earlier cash-and-stock proposal. The change is expected to accelerate the transaction timeline, with a shareholder vote now anticipated by April, while also countering arguments from Paramount Global and its partner Skydance Media that their competing bid was the only straightforward all-cash option available to investors.

Reportedly, the amended deal has prompted Warner Bros. Discovery to publish additional financial details related to its cable networks, which are set to be spun off. The disclosures are intended to give shareholders a clearer picture of the assets they would retain if the Netflix transaction is completed.

Paramount has reportedly maintained that limited transparency around the cable spinoff, as well as the earlier structure of Netflix’s offer, was a key factor behind its decision to escalate a hostile bid. As per reports, the company has argued that shareholders were being asked to assess rival proposals without sufficient financial information.

The competing bids are expected to remain under scrutiny as investors prepare to weigh their options in the coming months.