Netflix revises Warner Bros. bid to an all-cash offer
Netflix has updated the acquisition terms for its Warner Bros. Discovery offer to an all-cash deal, replacing its initial $82.7 billion cash and stock agreement. The changes are designed to expedite the sale of WBD studios and streaming businesses, following repeated attempts by rival bidder Paramount to pressure shareholders into accepting its own $108 billion all-cash offer.
"The WBD Board continues to support and unanimously recommend our transaction, and we are confident that it will deliver the best outcome for stockholders, consumers, creators, and the broader entertainment community," said Ted Sarandos, co-CEO of Netflix. "Our revise …