Netflix Amends Warner Bros. Deal to All Cash in Bidding War (3)

Netflix Inc. reached an amended, all-cash agreement to buy Warner Bros. Discovery Inc.’s studio and streaming business as it battles Paramount Skydance Corp. to acquire one of Hollywood’s most iconic entertainment companies.

Netflix, which previously agreed to pay $27.75 a share in cash and stock for the Warner assets, will pay the full amount in cash, according to a filing confirming an earlier Bloomberg News report on the revised terms.

Warner Bros. plans to call a special meeting of shareholders to approve the deal. Investors will vote on the transaction by April, the companies said. Warner Bros.’ annual ...