Netflix drops the hammer with all-cash Warner Bros bid

Netflix has revised its $82.7 billion Warner Bros Discovery bid to an all-cash offer of $27.75 per share, maintaining the same total price but removing stock components. The move aims to provide certainty and expedite shareholder approval amid competition from Paramount Skydance's $30 per share cash offer. Warner Bros' board unanimously supports Netflix's bid, citing the value of a planned Discovery Global spin-off containing cable assets like CNN. A shareholder vote is expected by April, with regulatory approval remaining a significant hurdle for either deal.