New York, Jan 20, 2026, 10:37 EST — Regular session
- Netflix shares rose roughly 0.8% following its move to an all-cash offer for Warner Bros
- SEC filing reveals Netflix has increased bridge loan commitments to $42.2 billion for the deal
- Netflix’s quarterly results are due after the market close, with investors holding their breath.
Netflix shares ticked up Tuesday following the company’s shift to an all-cash bid for Warner Bros Discovery’s studio and streaming units. The change is seen as a direct challenge to Paramount’s competing offer.
This shift is significant as Netflix’s share price drop since the deal’s announcement began to chip away at the initial cash-and-stock arrangement. Investors have been eager for any indication the company can maintain control over the process.
Attention turns quickly to earnings. Netflix will report quarterly results after the market close, with investors eager for updates on financing and how the deal impacts cash flow priorities.
By 10:37 a.m. EST, Netflix had climbed roughly 0.8% to $88.73. The shares have fluctuated between $88.04 and $89.85 during the session.
The gain unfolded amid a softer broader market. Early trading saw Wall Street’s key indexes drop over 1%, dragged down by fresh tariff threats tied to tensions over Greenland. One strategist flagged that volatile headlines were fueling “angst and concern” about the road ahead. Reuters
Netflix has upped its bid to $27.75 per Warner Bros share in cash, keeping the total price steady at $82.7 billion, according to a regulatory filing cited by Reuters. “Our revised all-cash agreement will enable an expedited timeline to a stockholder vote and provide greater financial certainty,” Netflix co-CEO Ted Sarandos said. Reuters
In a separate announcement, Netflix and Warner Bros confirmed the all-cash deal aims for a stockholder vote by April 2026. Warner Bros shareholders will still get shares in Discovery Global following the planned split. The companies plan to fund the transaction using cash on hand, credit lines, and committed financing.
Netflix revealed in an 8-K filing that it boosted its commitments on the bridge term loan package to $42.2 billion, up from $34 billion. The move is meant to cover the all-cash merger consideration and associated expenses. Bridge loans, typically short-term, serve as interim financing before companies secure longer-term debt.
Paramount Skydance’s tender offer is set to expire on Jan. 21, Reuters reported. Ross Benes, an analyst at Emarketer, warned, “Unless Paramount raises its bid, the appeal will be window dressing.” Reuters
Risks are still very much present. Regulatory scrutiny continues to be a major wildcard. Warner Bros’ filings reveal a U.S. antitrust “Second Request,” meaning regulators want more detailed info, which could stretch the review timeline. The deal documents also specify termination fees linked to particular results. SEC
Investors are set for a key update Tuesday. Netflix will release its quarterly results around 1:01 p.m. Pacific (4:01 p.m. ET), then host a live video interview at 1:45 p.m. Pacific.
