Netflix is preparing an all-cash offer for Warner Bros Discovery’s studios and streaming businesses, according to global news agencies.
An earlier proposal from Netflix valued Warner Bros Discovery’s film and streaming assets at about $82.7 billion and included a mix of cash and stock.
Shares in Netflix rose 1.02% at the close of trading on Tuesday, while Warner Bros Discovery shares ended the session 1.62% higher. Paramount shares were unchanged.
Paramount has offered $108.4 billion in cash for the entire company, including its cable television operations. The Warner Bros Discovery board has said Paramount’s offer relies heavily on debt financing, increasing execution risk, and has maintained that the proposal remains inadequate despite revisions.
On Monday, Paramount sued Warner Bros Discovery seeking more information on its negotiations with Netflix and said it plans to nominate directors to the company’s board.
