Netflix Strengthens Warner Bros Bid with $25B Loan Refinancing Amid Paramount’s Hostile Offer
Netflix has refinanced $25 billion of its $59 billion bridge loan, securing a $5 billion revolving credit facility and two $10 billion delayed-draw term loans. The MOVE bolsters its $82.7 billion bid for Warner Bros. Discovery's studios and streaming assets, sending shares up nearly 1%.
Competition intensified as Paramount Skydance Corp launched a surprise $77.9 billion hostile bid for all Warner Bros assets, including CNN and HBO. The Warner Bros board has endorsed Netflix's offer, urging shareholders to reject Paramount's proposal.
Regulatory scrutiny looms as antitrust concerns may determine the outcome of what's become one of the largest media acquisitions in recent history. The divergent deal structures - Netflix focusing on streaming versus Paramount's full-asset approach - complicates direct comparisons.
