Netflix wants Warner Bros. shareholders to say yes to merger

Business Dec 17, 2025

Netflix is asking Warner Bros. Discovery (WBD) shareholders to approve its proposed merger, which the board described as the best and most certain path forward after WBD's board recommended shareholders reject a competing offer from Paramount Skydance.
Netflix's pitch? Each WBD share would get $23.25 in cash plus $4.50 in Netflix stock.

What this means for streaming fans

If approved, the deal could wrap up in 12-18 months (pending US and EU regulatory checks).
Netflix says merging with WBD will help bring even more creative content to audiences worldwide, create new opportunities for both companies, and give viewers more choice—while keeping things smooth for everyone involved.