BySiladitya Ray,
Forbes Staff.
Netflix on Tuesday announced it has revised its bid to acquire Warner Bros. Discovery’s studios and streaming business into an all-cash offer in an apparent effort to fend off Paramount Skydance’s hostile bid to acquire Warner.
In a press release, Netflix said its $83 billion cash-and-stock deal to acquire Warner’s studio and streaming business—including HBO Max—has been altered to an all-cash offer.
The streaming giant said this would offer “enhanced certainty” to Warner’s shareholders who no longer have to be concerned about Netflix’s fluctuating stock price.
