Netflix and Warner Bros. just changed the streaming game
Netflix and Warner Bros. Discovery (WBD) have switched up their merger deal—it's now an all-cash offer, valuing WBD at an equity value of $72.0 billion.
This move makes things simpler and provides greater certainty of value for WBD stockholders, with both companies' boards giving a thumbs-up.
What's actually happening?
The new deal speeds up the process for WBD shareholders to vote, and sets the stage for Discovery Global networks (think CNN, TNT Sports, Discovery+) to become its own company (timeline not specified).
Both sides are calling this a big step forward—WBD CEO David Zaslav says it's about combining "two of the greatest storytelling companies in the world" that people everywhere love.
Why does it matter?
This $82.7 billion merger could totally shake up what you watch online.
Netflix gets access to major franchises like HBO and DC, making its library even stronger, while WBD can focus on what it does best.
Basically: more shows, bigger universes—and some serious changes coming to your streaming lineup soon.