Netflix Sweetens Warner Bros. Discovery Bid to All Cash Amid Bidding War

• Netflix Inc. amended its agreement to acquire Warner Bros. Discovery Inc.'s studio and streaming business, offering an all-cash deal.
• The revised offer aims to counter Paramount Skydance Corp.'s $30-a-share cash tender offer for all of Warner, including cable channels like CNN and TNT.
• Warner Bros. plans a special shareholder meeting to approve the deal, with the date yet to be set.
• The deal would combine two major streaming providers, creating a combined subscriber base of 450 million and a vast content library for Netflix.
• Hollywood labor unions and movie theater owners have expressed concerns about the potential impact of the deal on their members and businesses.

Why It Matters: Netflix's all-cash offer for Warner Bros. Discovery intensifies the bidding war, aiming to secure a major media acquisition.