Feb 2 (Reuters) - Warner Bros Discovery is likely to hold a shareholder vote on the $82.7 billion deal to sell its streaming and studio assets to Netflix in March, CNBC reported on Monday. Warner Bros
Warner Bros Shareholders Expected to Vote on Netflix Deal in March
Warner Bros and Netflix Deal Overview
Feb 2 (Reuters) - Warner Bros Discovery is likely to hold a shareholder vote on the $82.7 billion deal to sell its streaming and studio assets to Netflix in March, CNBC reported on Monday.
Shareholder Vote Details
Warner Bros Discovery and Netflix did not immediately respond to Reuters requests for comment.
Potential Competition Concerns
A green light from investors would move the deal forward, but it could face intense scrutiny from U.S. and European competition authorities, who will assess if the combination would reduce competition or limit consumer choice.
Impact on Streaming Landscape
If shareholders were to reject the Netflix deal, Paramount Skydance is expected to continue escalating pressure and attempt to replace Warner Bros board members with directors more open to reviewing or approving its hostile $108.4 billion offer, Reuters reported.
Warner Bros' board unanimously rejected Paramount's bid, labeling it "inadequate" and "not in the best interests" of shareholders.
The David Ellison-led company extended the deadline for its tender offer to February 20, giving it more time to convince investors that its proposal for the Hollywood studio was superior to a rival bid from Netflix.
For Netflix, gaining access to WBD's marquee assets — from "Friends" to "Batman" — could give it the cultural firepower to develop a new wave of streaming-first spinoffs, prequels and sequels.
It would also make Netflix the biggest global streaming player, with roughly half a billion subscribers.
(Reporting by Jaspreet Singh and Harshita Mary Varghese in Bengaluru; Editing by Arun Koyyur)
