Netflix has updated its proposal to acquire Warner Bros Discovery streaming and film business, shifting to an all cash deal in an effort to block a rival bid from Paramount Skydance. The move comes as competition intensifies over control of one of Hollywood most valuable media libraries.
Critics have raised concerns about both merger proposals, arguing that either deal could concentrate too much influence within a single company. Despite this criticism, Netflix executives insist their plan supports long term growth rather than market dominance.
According to Netflix co chief executive Ted Sarandos, the merger would give audiences broader access to premium entertainment worldwide. He stated that combining Netflix and Warner Bros would increase viewing choices and improve access to high quality.
He also highlighted that the acquisition would expand United States production capacity and increase investment in original content.
If approved, the deal would grant Netflix ownership of Warner Bros extensive content library. This includes globally popular franchises such as Harry Potter and Game of Thrones, along with the HBO Max streaming platform. Netflix has offered $27.75 per share for Warner Bros streaming and film assets, valuing the business at approximately $72 billion.
Under the agreement, Warner Bros shareholders would also receive shares in the company remaining assets. These include networks, which are expected to be separated into a new publicly traded entity.
Meanwhile, Paramount Skydance continues to push its competing bid.Paramount argues that Warner Bros remaining networks are worth significantly less than claimed. The company maintains that its $30 per share offer, valued at $108 billion overall, represents a stronger deal.
In a joint statement, both companies said this change would simplify the process and allow shareholders to vote on the deal more quickly. The move signals Netflix determination to secure the studio as Paramount Skydance continues its aggressive pursuit.
