Netflix Makes All-Cash Bid For Warner Bros Discovery
Netflix is pulling out all the stops in its quest to buy Warner Bros. Discovery.
Netflix has switched to an all-cash bid to acquire Warner Bros. Discovery’s studio and streaming business, attempting to win over the media giant’s shareholders for its $72 billion merger and thwart a potential counter-bid by Paramount.
Netflix and Warner Bros. agreed to a cash and stock deal in December 2025, valued at $27.75 per share, making the total value to $82.7 billion, including debt. However, on Tuesday, January 20, 2026, the two companies announced a revision to the transaction to simplify its structure, reassure Warner shareholders about the value, and speed up the road to a shareholder vote, which they believe could take place by April.
Despite the new revision, the value remains $27.75 per share, with Warner stockholders also receiving the additional value of shares of Discovery Global, which is set to become a separate public entity after its already announced separation from Warner Bros.
Warner Bros is leaning towards the Netflix deal despite Paramount’s counteroffer
The Warner Bros leadership is reportedly backing a merger with Netflix, and the boards of both companies have approved the new all-cash deal. Warner CEO David Zaslav noted in a statement that the revised agreement “brings us even closer to combining two of the greatest storytelling companies in the world.”
A spokesperson for Paramount reportedly declined to comment on Netflix’s new offer when asked by The Associated Press on Tuesday. Paramount had previously offered an all-cash deal of $77.9 billion to acquire Warner Bros’ entire assets, including CNN and Discovery. However, it appears the Warner shareholders are leaning towards the Netflix deal.
Netflix has been the home of WWE RAW since January 2025, and the company recently also acquired the rights to WWE’s digital content library in the United States.
Read More: Fans Mock Logan Paul About Japan Controversy On WWE RAW on Netflix
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