Netflix Dismisses Debt-Heavy Bid for Warner Bros., Puts Forward $82.7 Billion Cash Offer
Netflix has turned down a $108 billion acquisition proposal from Paramount Skydance to purchase Warner Bros. Discovery, arguing that the deal lacks secure financing and relies excessively on debt.
Co-CEO Ted Sarandos said the proposal depended heavily on external funding, including potential backing from Oracle founder Larry Ellison, making it financially uncertain.
Instead, Netflix presented an all-cash offer worth $82.7 billion, which analysts view as more credible amid rising investor caution toward leveraged mega-transactions.
Paramount Skydance later approached Warner Bros. Discovery shareholders directly but managed to secure only about 7% of shares—far short of the level needed for control.
If finalized, a Netflix–Warner Bros. Discovery merger could mark one of the most transformative deals in modern entertainment history, though it would likely face intense regulatory review in major markets.