Netflix submits amended all-cash offer for Warner Bros, wins board support

Netflix has made a firm all-cash offer of $82.7 billion for Warner Bros Discovery's studios and streaming services. This move aims to outbid rival Paramount. Warner Bros' board unanimously supports the Netflix deal. Investors will receive $27.75 per share in cash. This provides certainty of value and immediate liquidity. The deal is seen as superior to Paramount's offer.