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Netflix switches to all-cash offer for Warner Bros to keep Paramount at bay
Business Standard
|January 21, 2026
Netflix has switched to an all-cash offer for Warner Bros Discovery’s studio and streaming assets but without increasing the $82.7 billion price in a bid to shut the door on Paramount's rival efforts to snag the Hollywood giant.
The new all-cash bid — at $27.75 a share — has unanimous support from the HBO owner’s board, according to a Tuesday regulatory filing.
Both Netflix and Paramount Skydance covet Warner Bros for its leading film and television studios, extensive content library and major franchises such as “Game of Thrones,” “Harry Potter” and DC Comics’ superheroes “Batman” and “Superman.” Paramount has altered its terms and engaged in an aggressive media campaign to try to convince shareholders that its bid is superior, but Warner Bros has spurned the David Ellison-led company.
This story is from the January 21, 2026 edition of Business Standard.
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