Netflix moves to acquire Warner Bros. Discovery in 106 trillion won deal

[Financial News] Netflix is preparing to acquire Warner Bros. Discovery’s studio business and HBO Max.
On the 13th (local time), The Wall Street Journal (WSJ), citing sources, reported that Netflix is preparing to acquire the two businesses for 72 billion dollars in cash (about 106 trillion won).
Netflix expects the acquisition process to be streamlined, as it reached an agreement with Warner Bros. Discovery last December on a cash-and-stock deal worth 72 billion dollars.
Paramount and Skydance Media, which had sought a hostile takeover of Warner Bros. Discovery by offering 77.9 billion dollars in cash (about 115 trillion won), have not abandoned their bid and are putting forward a new offer despite being rejected.
However, the Board of Directors of Warner Bros. Discovery notified that it had unanimously concluded that the proposal from Paramount was inferior to Netflix’s.
jjyoon@fnnews.com Yoon Jae-joon Reporter