Netflix Switches To All-Cash Bid For Warner Bros.

Netflix has switched its agreement for Warner Bros. Discovery to an all-cash deal. The new transaction values Warners at $27.75 per share and removes the $4.50 Netflix stock element, which was part of the agreement that beat out Paramount. As previously announced, Discovery Global is not included. Both Netflix and Warner Bros. Discovery (WBD) said the agreement “provides enhanced certainty” to WBD shareholders by “eliminating market-based variability.” The new agreement, still worth the previous $82.7B, wo ...