Overview
- Netflix values the deal at roughly $83 billion and has suspended share buybacks to help fund the purchase after dropping plans to use stock.
- Paramount-linked bidders, including Skydance, have floated a reported offer exceeding $100 billion that would include TV networks such as CNN, and Warner Bros. Discovery previously rejected the Ellison-led proposal.
- Netflix reported more than 325 million paid subscribers, quarterly revenue of about $12.1 billion, and net income of $2.42 billion.
- Netflix shares fell about 4–5% in after-hours trading and are down roughly 30% since initial takeover reports.
- A regulatory filing shows the $27.75-per-share proposal received unanimous approval from the Warner Bros. Discovery board.