Netflix preparing all-cash offer for WBD to fend off Paramount
Netflix co-CEO Ted Sarandos at the Time 100 Summit in April 2025
Netflix is preparing a revised all-cash offer to acquire Warner Bros Discovery’s studios and streaming businesses after fellow suitor Paramount filed a lawsuit against WBD earlier in the week.
According to Bloomberg, Netflix is revising its initial offer — which would have seen WBD shareholders receive US$23.25 in cash and up to US$4.50 in Netflix shares for each WBD share, plus future stock in the stand-alone Discovery Global company when it is spun off in the third quarter of 2026.
Netflix is reportedly offering US$27.75 cash per share. Paramount’s most recent offer is a US$30-per-share all-cash takeover of the entire company, which also includes the Discovery Global cable networks, such as TNT, CNN, TLC Discovery, and the Food Network.
