Bloomberg Intelligence Netflix Amends Warner Bros. Deal to All Cash in Bidding War
Jan 20, 2026
Geetha Ranganathan, a Bloomberg Intelligence analyst focusing on media, discusses Netflix's bold all-cash bid for Warner Bros., aimed at strengthening its position in a bidding war against Paramount. Henrietta Treyz shares insights on the geopolitical implications of trade tariffs related to Greenland, cautioning against the potential collapse of the US-EU trade deal. Marc Champion warns that a trade war over Greenland could have severe consequences for Europe, highlighting their reliance on U.S. security and the need for careful diplomacy.
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Netflix Pivots To All-Cash To Strengthen Bid
- Netflix switched to an all-cash bid to make its offer unquestionably competitive with Paramount's $30 per-share cash proposal.
- Geetha Ranganathan says the move speeds shareholder voting and shows Netflix is serious about closing quickly.
Paramount Must Respond To Match Or Fold
- Paramount now faces pressure to sweeten or extend its $30 tender after Netflix matched with all cash.
- Geetha predicts Paramount must act by the tender deadline or concede the competitive position.
Cable Networks Still Hold Material Value
- Warner values the spun-off TV networks between $1.50 and $7 per share under multiple scenarios.
- Geetha argues that Warner believes extracting value from networks could favor Netflix's offer over Paramount's claim they're worthless.