Netflix on Tuesday amended its takeover offer for Warner Bros. Discovery (WBD) into an all‑cash proposal of $27.75 per share, dropping the stock component in a bid to blunt a hostile approach from Paramount Global.
The revised offer preserves an enterprise value of about $82.7 billion and targets WBD’s film and television studios, HBO, and HBO Max, while excluding cable networks that would be spun off into a separate company, Discovery Global.
WBD’s board has unanimously approved the amended Netflix bid, setting a shareholder vote for April 2026, even as Paramount presses a rival $108.4 billion all‑cash hostile bid at $30 per share and pursues legal and proxy actions.
Why this matters in Nigeria
After weeks of uncertainty over expiring carriage agreements, MultiChoice (now under Canal+ ownership) reached a multi‑year deal with WBD on December 31, 2025, that preserved 12 WBD channels on DStv and GOtv, averting a mass blackout on January 1. Channels saved include CNN International, Cartoon Network, Cartoonito, TNT Africa, and Discovery networks.
