Netflix Considers All-Cash Warner Bros Bid as Rival Pressure Grows

Netflix Inc is considering amending its offer to acquire Warner Bros Discovery by shifting to an all-cash bid, according to a report by Bloomberg News, a move that could strengthen its position amid competing interest and market scrutiny.

The streaming giant had agreed in December to an acquisition of key Warner Bros Discovery assets in a deal combining cash and stock.

That structure has since come under pressure after Netflix stock weakened, triggering provisions that allow the company to revisit the terms. An all-cash proposal could simplify the transaction and provide greater certainty to shareholders.

The potential revision comes as rival bidders seek to disrupt the deal. Paramount Skydance has put forward a higher, all-cash proposal for the entire company, including its cable television networks.

• Netflix weighs all-cash bid for Warner Bros Discovery amid rival pressure
• Shift could boost deal certainty as markets scrutinise media mega-merger
• Potential deal would reshape global streaming and studio competition

 Warner Bros Discovery’s board rejected that bid, citing concerns about financing risk and deal certainty, but the offer has continued to weigh on the competitive landscape.

An all-cash bid from Netflix would reduce exposure to share price volatility and could accelerate regulatory approvals and shareholder approvals. Such a move would also underline Netflix’s balance-sheet strength after several years of improved cash generation driven by subscriber growth, advertising revenue, and tighter cost controls.

Investors reacted cautiously to the report. Netflix shares edged higher, while Warner Bros Discovery stock also gained as markets assessed the likelihood of revised terms. Analysts said the renewed focus on cash consideration reflects a broader preference among shareholders for certainty as global markets remain volatile.

The deal would represent one of the largest transactions in the media industry, combining Netflix’s global streaming platform with Warner Bros’ extensive film, television, and intellectual property portfolio. If completed, it would reshape the competitive dynamics of the entertainment sector at a time when traditional studios face pressure from declining linear television revenues.

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Neither Netflix nor Warner Bros Discovery commented on the report. The deal remains under review, and no final decision has been announced.