$82.7 Billion Power Move: Netflix’s Cash Offer Secures Warner Bros Board Approval

In a landmark move for the global entertainment industry, Netflix has revised its acquisition bid for Warner Bros Discovery (WBD), turning it into an all-cash transaction. The amended offer, valued at $82.7 billion, will provide Warner Bros shareholders $27.75 per share entirely in cash, instead of the earlier mix of cash and Netflix stock.

The decision, announced in a regulatory filing on January 20, 2026, won unanimous support from WBD’s board, signaling confidence in Netflix’s financial strength and simplifying the merger structure. The deal covers Warner Bros’ iconic film and television studios, its extensive content library, and the HBO Max streaming service.

Analysts note that the all-cash structure provides greater certainty of value, immediate liquidity for shareholders, and accelerates the path to closing. The move also intensifies competition with rival bidder Paramount, which has pitched its own all-cash offer.

Key Highlights

• Deal Value: $82.7 billion.
• Offer Structure: $27.75 per share, all cash.
• Assets Covered: Warner Bros studios, content library, HBO Max.
• Board Decision: Unanimous approval from WBD’s board.
• Strategic Impact: Simplifies transaction, ensures liquidity, strengthens Netflix’s global dominance.

This acquisition, if completed, will reshape the entertainment landscape, positioning Netflix as a powerhouse across both streaming and traditional media.

Sources: US News; LiveMint; Hollywood Reporter; CNBC; Netflix Official Statement.