According to a Bloomberg report, Netflix is in talks to revise its cash-and-stock deal to an all-cash deal

Well, well, well, the WBD bid war is in full battle mode. None of the two remaining competitors, Netflix and Paramount Skydance are ready to give up that easily.

As Paramount continues to argue that cash is king and has asked WBD stockholders to tender their shares by Jan 21, the WBD board advised its shareholders twice reject Paramount’s offer and stand with Netflix’s agreement.

This change is designed to accelerate the acquisition and to make it easier for the WBD shareholders too.

On Monday, Paramount sued the WBD board in Delaware Chancery Court to release all documentation detailing the decision-making process and math behind its choice of opting for Netflix. There are talks that Paramount is planning to nominate directors to the WBD board to derail the Netflix deal.

WBD had told its shareholders to reject the Paramount offer due to uncertain financial backup, but then Larry Ellison stepped up as a guarantor with $40.4 bn in equity financing for the proposed deal.

Netflix is bidding for the movie studios, HBO, and HBO Max, only, from WBD, but Paramount is aiming for the entire company, including CNN, Cartoon Network, and the Discovery channel. But WBD’s board directors concluded the stakes were high and the bid was “inadequate,” amassing “significant” risks and costs.

WBD has faced Paramount’s repeated attempts to overturn Netflix’s offer since Netflix nearly won the deal. The Netflix and WBD merger has faced backlash and concerns from US politicians and figures from the entertainment industry.

It’s still unclear who will rewrite the Hollywood DNA, and by when, looking at the way the bid war is heating up as the days pass.

^{Pic Credits: WBD/Yahoo}