Netflix shifts to all-cash bid for Warner Bros to block Paramount in takeover battle

Netflix has switched to an all-cash offer for Warner Bros Discovery’s studio and streaming assets, without raising its $82.7 billion valuation, in a move aimed at shutting the door on rival efforts by Paramount to acquire the Hollywood company.

The revised all-cash bid, priced at $27.75 a share, has unanimous backing from Warner Bros’ board, according to a regulatory filing released on Tuesday.