(San Francisco, Jan 21) U.S. streaming giant Netflix announced revised acquisition terms for Warner Bros Discovery, stating it will acquire the company’s film and television production business through an all-cash offer of US$27.75 per share, aimed at accelerating the divestment process.
Alongside the updated structure, Netflix also raised the headline deal value, with the total purchase price increased from US$72.0 billion (about RM292.0 billion) to US$82.7 billion (about RM335.5 billion).
Warner Bros Discovery is expected to convene a special shareholders’ meeting to vote on the transaction. Netflix said shareholders should be able to cast their votes before April.
In early December last year, Netflix had proposed a cash-and-stock offer for the same production assets, under which shareholders would receive US$23.25 in cash plus Netflix shares worth about US$4.50, totaling US$27.75 per share and valuing the deal at approximately US$72.0 billion.
However, a competing bidder later emerged—Paramount Skydance—offering an all-cash proposal of US$30 per share, or roughly US$108.0 billion (about RM438.0 billion), to acquire all of Warner Bros Discovery’s businesses.
Netflix’s revised terms—shifting to an all-cash structure and lifting the total price—are widely seen as a response to the rival bid.
