This photo shows the Netflix building in Hollywood, Los Angeles County, California, United States on December 17, 2025.
Zeng Hui | Xinhua News Agency | Getty Images
Netflix changed his proposal for Warner Bros. Discovery’s respective studio and streaming assets for a full cash offer SEC filing on tuesday.
Netflix now owns WBD’s HBO Max streaming platform and Warner Bros. plans to pay $27.75 per WBD share to buy the movie studio. Originally two companies came to a deal consists of a combination of cash and shares in equity worth $72 billion in December.
CNBC’s David Faber and other media outlets reported last week as Netflix may make a correction Paramount Skydance Cable TV networks like CNN and TNT continue to press for an all-out takeover of WBD.
Changing Netflix’s deal structure would allow WBD shareholders to increase their voting power to approve the offer, Faber said last week, citing sources familiar with the matter. Previously, shareholders were expected to vote on the deal in the spring or early summer.
The WBD board unanimously accepted Netflix’s amended proposal in Tuesday’s filing. There is in the board offered twice shareholders reject Paramount’s hostile bid in favor of a Netflix transaction.
First place soon sued for information A hostile takeover of WBD is underway, and at the same time, WBD’s shareholders will be told at the company’s 2026 annual meeting that Warner Bros. Discovery initiated a proxy fight by notifying the board of its intention to nominate directors for election.
Also on WBD on Tuesday was given Preliminary Proxy Statement Requiring Stockholder Approval for Transaction with Netflix. If the deal is approved, the WBD cable television networks will become a new, publicly traded entity called Discovery Global.
Netflix will report earnings after the call on Tuesday, and investors will be looking for more updates on the sales process.