Netflix has updated its offer for Warner Bros Discovery's streaming and film business and will pay completely in cash - as it looks to fend off rival Paramount Skydance in pursuit of the Hollywood studio.
The move amends the streaming giant's original offer, which would have funded the transaction using a mix of cash and shares.
In a joint announcement, Netflix and Warner Bros said the change would provide more "certainty" to shareholders and enable them to vote the deal through sooner.
The update comes as Paramount Skydance presses on with its rival bid to buy Warner Bros, despite being repeatedly rebuffed.
Netflix's plan would give the streaming giant ownership of Warner Bros' rich library, which includes franchises such as Harry Potter and Game of Thrones, as well as streaming service HBO Max.
