Netflix wins Warner Bros board support over Paramount with amended all-cash offer

South China Morning PostCenter-RightEN 1 min read 100% complete by ReutersJanuary 20, 2026 at 02:07 PM

AI Summary

short article 1 min

Netflix is pursuing Warner Bros Discovery's studio and streaming businesses with an amended all-cash offer of $82.7 billion, aiming to outmaneuver rival Paramount. Warner Bros' board unanimously supports the Netflix bid, which involves Netflix paying $27.75 per share in cash for the film and television studios, content library, and HBO Max streaming service. This revised agreement replaces a previous cash-and-stock offer. Netflix's move comes as Paramount aggressively campaigned to convince shareholders its bid was superior. News of the deal initially saw Netflix shares rise slightly before falling almost 15% since the merger announcement on December 5th.

Key Entities & Roles

Key Player Opposition Context

HBO Max 80% Netflix ×4100% Warner Bros Discovery ×2100% Paramount ×3100%

Keywords

netflix 100% warner bros 90% acquisition 90% merger 80% all-cash offer 80% paramount 70% film and television studios 60% streaming businesses 60% content library 50% shareholders 40%