LOS ANGELES ¨C Netflix has switched to an all-cash offer for Warner Bros. Discovery¡¯s studio and streaming assets without increasing the $82.7 billion price in a bid to shut the door on Paramount¡¯s rival efforts to snag the Hollywood giant.
The new all-cash bid ¡ª at $27.75 a share ¡ª has unanimous support from the Warner Bros. board, according to a Tuesday regulatory filing.
Both Netflix and Paramount Skydance covet Warner Bros. for its leading film and television studios, extensive content library and major franchises such as ¡°Game of Thrones,¡± ¡°Harry Potter¡± and DC Comics¡¯ superheroes Batman and Superman. Paramount ?has altered its terms and engaged in an aggressive media campaign to try to convince shareholders that its bid is superior, but Warner Bros. has spurned the David ?Ellison-led company. ?It declined to comment Tuesday on Netflix¡¯s all-cash offer.
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