Netflix in exclusive talks to buy Warner Bros Discovery’s studio & streaming business
Netflix in exclusive talks to buy Warner Bros Discovery’s studio & streaming business The deal – Buyer: Netflix, Inc. (NFLX) Seller: Warner Bros. Discovery, Inc. (WBD) Assets in scope: Warner Bros. Discovery’s film & television studios plus its streaming assets (principally HBO / HBO Max / Max and associated libraries). Linear cable networks (CNN, TNT, TBS, etc.) are expected to sit in a separate company. Headline value: Press reports describe the talks as a deal valued at about $28 per WBD share , with Netflix’s proposal mostly in cash (~85%) plus stock. Break-up protection: Bloomberg/Reuters reporting indicates Netflix has offered a US$5 billion break-up fee if regulators block the deal. Status: Netflix has entered exclusive negotiations with WBD for the studio & streaming package after a competitive bidding process that also involved Paramount Skydance and Comcast/NBCUniversal. WBD is simultaneously working on a corporate split i...