Netflix revises Warner Bros. Discovery offer into all-cash deal amid acquisition contest — What shareholders will get

Netflix-Warner Bros. Agreement: Global entertainment giant Netflix announced on Tuesday, January 20, 2026 that it has decided to convert the firm’s potential acquisition structure into an all-cash deal in order to simplify the transaction structure.

“Netflix and WBD have agreed to revise the structure of their previously announced transaction to provide that the merger consideration of $27.75 per share payable to WBD stockholders (as defined below) in the Merger will be paid entirely in cash rather than a combination of cash and shares of Netflix common stock, subject to the terms and conditions of the Amended and Restated Merger Agreement,” the company said in its SEC filing.

(This is a developing story. Please check back for updates.)