Netflix considers all-cash offer for Warner Bros. Discovery units: Reports

Watch on YouTube ↗  |  January 14, 2026 at 11:55  |  2:31  |  CNBC
Speakers
David Faber — Anchor, Squawk on the Street / Media Analyst
Joe Kernen — Co-Anchor, Squawk Box

Summary

Netflix is reportedly considering an all-cash offer for Warner Bros. Discovery's streaming and studio assets, a move that could close faster than the current deal structure. Warner Bros. Discovery also faces a competing Paramount Skydance bid for the entire company, and Paramount has sued for information and plans board nominations. The discussion focuses on deal valuation, the Netflix stock collar, and whether Netflix should wait for Paramount to move first.

  • Netflix reportedly weighs all-cash bid for WBD streaming/studio assets.
  • Paramount Skydance is competing for all of WBD, including cable channels.
  • Paramount has sued WBD for information and plans director nominations.
  • Hosts debate whether Netflix should wait rather than bid against itself.
  • Valuation comparison centers on Netflix's $72B offer and Paramount's $77.9B bid.
  • Financing guarantees, bank participation, and debt payments are flagged as deal risks.
Ideas
David Faber Anchor, Squawk on the Street / Media Analyst 1:20
WBD cash bid would be money-good
Netflix's current offer for Warner Bros. Discovery assets may be worth less than the headline $72 billion because of the stock collar, but an all-cash $72 billion bid would be money-good and more certain for WBD shareholders; this keeps WBD in a competitive M&A situation alongside Paramount Skydance's rival bid.
WBD MED
David Faber Anchor, Squawk on the Street / Media Analyst 1:43
Netflix should wait, not bid against itself
Netflix has no incentive to bid against itself right now; it should stay where it is and wait to see how the Paramount/Skydance situation plays out rather than making a premature move.
NFLX MED
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This CNBC video, published January 14, 2026, features David Faber discussing WBD, NFLX. 2 trade ideas extracted by AI with direction and confidence scoring.

Speakers: David Faber  · Tickers: WBD, NFLX