Netflix has sweetened its $82.7bn (£61.5bn) offer for the studios and streaming businesses of Warner Bros Discovery (WBD) by making it an all-cash deal, streamlining its potential completion in the face of a hostile bid from Paramount Skydance. The streaming company had originally secured the unanimous backing of the WBD board last month with a cash-and-shares proposal that valued the business at $27.75 a share. The two companies said the switch to an all-cash offer – a plan first reported last week – at the same valuation as the original deal “simplifies the transaction structure, provides greater certainty of value
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