Overview
- Netflix converted its bid to pay $27.75 per share entirely in cash for Warner’s studio and streaming business, replacing a cash‑plus‑stock structure.
- Warner Bros. Discovery’s board unanimously approved the revised agreement and continues to question the credibility of Paramount’s financing.
- Paramount Skydance is pushing a roughly $108 billion, whole‑company offer and is suing Warner in Delaware over the process.
- Warner plans to spin off its cable channels, including CNN and TNT, into a separate company called Discovery Global for existing shareholders.
- An extraordinary shareholder vote is anticipated in the spring, with Netflix citing committed financing and a simpler deal structure to speed approval.