Netflix’s initial offer involved payment in cash and stock for Warner Bros. studio and streaming assets. The service is ready to revise it to speed up the deal amid opposition from Paramount.
Netflix is ready to offer to purchase Warner Bros. Discovery’s studio and streaming business entirely for cash, according to The Wall Street Journal and The Financial Times.
Bloomberg also reports that the streaming service is considering changing the terms of the deal to accelerate its closure amid opposition from Paramount Skydance.
Netflix’s initial offer to buy the company for 23.25 billion in cash and 97.91. Bloomberg notes that since October, when the battle for WBD began, Netflix shares have lost about a quarter of their value. On January 13, they traded at $89.07 per share, but rose 1.6% the following day.
Almost immediately after Netflix announced the deal, Paramount offered to buy the entire Warner Bros. Discovery company, including its assets and television networks like CNN and TNT Sports, not just the studio and HBO, for 40.4 billion.
The WBD board of directors rejected all of Paramount’s offers, after which Ellison’s company sued the film studio, demanding more detailed information about the deal with Netflix.
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