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Home›Buzz›Netflix revises its offer for Warner Bros. Discovery to make it an all-cash transaction
The Buzz

Netflix revises its offer for Warner Bros. Discovery to make it an all-cash transaction

By -
Wednesday, January 21, 2026
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[AP Photo]

Netflix is revising its $72 billion offer for Warner Bros. Discovery to make it an all-cash transaction.

Netflix initially put forth a cash and stock deal valued at $27.75 per Warner Bros. share, giving it a total enterprise value of $82.7 billion, including debt.

Netflix and Warner Bros. said yesterday that the revised deal simplifies the transaction structure, provides more certainty of value for Warner Bros. stockholders and speeds up the path to a Warner Bros. shareholder vote.

The companies said that the all-cash transaction is still valued at $27.75 per Warner Bros. share. Warner Bros. stockholders will also receive the additional value of shares of Discovery Global following its separation from Warner Bros.

“Together, Netflix and Warner Bros. will deliver broader choice and greater value to audiences worldwide, enhancing access to world-class television and film both at home and in theaters,” Ted Sarandos, co-CEO of Netflix, said in a statement. “The acquisition will also significantly expand U.S. production capacity and investment in original programming, driving job creation and long-term industry growth.”

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