"To sweeten the offer for shareholders, Netflix and Warner Bros. today announced that Netflix will pay all cash instead. If successful, Netflix's purchase will include HBO Max, WB Studios, and other assets. The price is unchanged at $27.75 per share, and Warner Bros. is targeting an April 2026 shareholder vote. The original plan was for Netflix to buy each Warner Bros. share with $23.25 in cash and $4.50 in Netflix stock."
"Netflix's pending purchase of Warner Bros. has an equity value of $72 billion and an enterprise value of $82.7 billion, which includes both equity and debt. Paramount Skydance has been trying to upend the deal with its own offer to buy Warner Bros. in a hostile takeover attempt that includes a lawsuit it filed against Warner Bros. last week. Paramount offered $108.4 billion at $30 per share."
Netflix will pay all cash to acquire Warner Bros. Discovery’s streaming and studio assets at $27.75 per share, preserving a $72 billion equity valuation. The revised deal replaces the original $23.25 cash plus $4.50 stock mix and targets an April 2026 shareholder vote. Netflix plans to fund the purchase with cash on hand, credit facilities, and committed financing. The transaction carries an $82.7 billion enterprise value including debt. Paramount Skydance launched a hostile $30 per share, $108.4 billion bid for the entire company and filed a lawsuit. Warner Bros. intends to spin off its cable TV division into Discovery Global before closing.
Read at Ars Technica
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