Netflix stock price slides as Warner Bros deal scrutiny tightens

Netflix co-CEO Greg Peters slammed Paramount Skydance’s hostile bid for Warner Bros. Discovery, calling the deal’s leverage “pretty crazy” and saying it wouldn’t fly without backing from Oracle founder Larry Ellison. Peters also pointed out that Netflix’s competition isn’t just studios—it includes platforms like YouTube, Amazon, and Apple.

Netflix has shifted its bid for Warner Bros Discovery’s studio and streaming operations to an all-cash offer, holding steady at $27.75 per share. This move aims to block Paramount Skydance’s competing bid. Warner Bros’ board has approved the updated terms, while Paramount’s tender offer is due to expire Wednesday.

Netflix has shifted to an all-cash bid for Warner Bros Discovery’s studio and streaming assets, holding firm on the $82.7 billion valuation as it seeks to edge out Paramount Skydance. According to a regulatory filing, Warner’s board gave unanimous approval to the updated offer. https://www.reuters.com/business/finance/netflix-submits-amended-all-cash-offer-warner-bros-wins-board-support-2026-01-20/

A Delaware judge declined to fast-track Paramount Skydance’s attempt to access Warner Bros Discovery’s disclosures amid the battle over Netflix’s $82.7 billion takeover bid. Vice Chancellor Morgan Zurn ruled Paramount failed to prove “cognizable irreparable harm.” A lawyer for Warner argued, “This movie is still being shot.” Paramount insisted shareholders should question why the board is “working so hard to hide this information,” while Warner’s team fired back, “The auction ended last year, and Paramount lost.”