Netflix revises its offer for Warner Bros. Discovery to make it an all-cash transaction

netflix Warner Bros. It is revising its $72 billion offer for Discovery to make it an all-cash transaction.

netflix initially Warner Bros. It came up with a cash and stock deal worth $27.75 per share, giving it a total enterprise value of $82.7 billion, including debt.

Netflix and Warner Bros. The revised agreement simplifies the transaction structure, Warner Bros. said in a statement on Tuesday. provides greater value certainty to its shareholders and provides Warner Bros. said it was expediting the path to a shareholder vote.

The companies said the all-cash transaction was still held by Warner Bros. He said it was worth $27.75 per share. Warner Bros. shareholders will also receive additional value from their shares following Discovery Global’s separation from Warner Bros.

Both companies’ boards of directors approved the amended all-cash deal.

at odds with Netflix Paramount Skydance Warner Bros. Paramount took another step in its bid to buy Warner Bros. last week, saying the Hollywood studio would name its own slate of directors before its next shareholders meeting.

Netflix’s shares rose 1.3% before the market opened, while Warner Bros. Discovery’s shares fell slightly.