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International Business Times UK
International Business Times UK
Ivy Jill Romanillos

Netflix Makes All-Cash Move for Warner Bros. Studios and HBO Max Amid Takeover Battle

Netflix HBO Max HBO Warner Bros Warner Bros Discovery Warner Bros Studios Paramount Global Skydance Media
Netflix amended its proposal to offer Warner Bros. Discovery shareholders a fixed return. (Credit: Venti Views/Unsplash)

Netflix has shifted to an all-cash offer for Warner Bros. Studios and HBO Max, intensifying a takeover battle that could reshape control of some of Hollywood's most valuable entertainment assets.

The revised proposal, reported on 20 January 2026, replaces an earlier cash-and-stock structure and targets Warner Bros. Discovery's film and television studios alongside its HBO Max streaming platform, as the company weighs rival interest from Paramount Global and Skydance Media.

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