Netflix is reportedly preparing changes to its proposal to acquire Warner Bros Discovery’s studios and streaming operations, aiming to accelerate the process and block a competing bid from Paramount Skydance.
According to The Guardian, the revision to Netflix’s $83 billion offer is intended to speed up the acquisition—which is expected to take several months—and to secure approval from Warner Bros Discovery shareholders.
The potential merger has drawn opposition in the United States from politicians and entertainment industry executives, who worry that such a combination could control nearly half of the streaming market.
Under the deal, Netflix would acquire iconic WBD assets, including Warner Bros. studios—home to the Harry Potter, Superman, and Batman franchises—as well as HBO, which hosts series such as Game of Thrones, The White Lotus, and Succession.
Meanwhile, Paramount is pursuing its own $108.4 billion offer for WBD, backed by a $40 billion personal guarantee from Oracle co-founder Larry Ellison. WBD has urged shareholders to reject the Paramount proposal, describing it as “inadequate” and heavily leveraged.
In the midst of the corporate battle, Paramount also plans to nominate new members to WBD’s board in an effort to block the Netflix deal.
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