iWorld
Netflix revises Warner Bros deal to all-cash structure
California: Netflix has rewritten the script on its proposed takeover of Warner Bros. Discovery, amending the deal to an all-cash transaction in a move designed to boost certainty, accelerate approvals and underline the streamer’s financial firepower.
Under the revised agreement, Netflix will acquire Warner Bros. Discovery at $27.75 per share in cash, unchanged from the earlier structure. WBD shareholders will also receive additional value through shares in Discovery Global, which will be spun off ahead of the transaction’s close. The deal will be funded through cash on hand, existing credit lines and committed financing.
The streamlined structure clears a faster path to a shareholder vote, now expected by April 2026. To support the accelerated timeline, Warner Bros. Discovery has filed its preliminary proxy statement with the US Securities and Exchange Commission.
David Zaslav, president and ceo of Warner Bros. Discovery, said the revision brought the companies “even closer to combining two of the greatest storytelling companies in the world”. He added: “By coming together with Netflix, we will combine the stories Warner Bros. has told for more than a century and ensure audiences continue to enjoy them for generations to come.”
Ted Sarandos, co-ceo of Netflix, said the WBD board continued to unanimously support the transaction. “Our revised all-cash agreement provides greater financial certainty at $27.75 per share in cash, plus the value from the planned separation of Discovery Global,” he said. “Together, Netflix and Warner Bros. will deliver broader choice and greater value to audiences worldwide.”
Greg Peters, co-ceo of Netflix, said the amendment reinforced the company’s long-held view that the deal was “pro-consumer, pro-innovation, pro-creator and pro-growth”. He added that the structure preserved Netflix’s balance sheet strength while maintaining its investment-grade ratings. “This transaction will further fuel growth and investment in film and television in the US and abroad,” he said.
Samuel Di Piazza, chair of the Warner Bros. Discovery board, said the shift to cash consideration reflected a sharp focus on shareholder interests. “It allows us to deliver the value of this combination with greater certainty, while enabling stockholders to participate in the strategic potential of Discovery Global’s iconic brands,” he said.
As previously outlined, Warner Bros. Discovery will split into two publicly listed companies, Warner Bros. and Discovery Global, a process expected to take six to nine months and to be completed before the Netflix transaction closes. The deal has been unanimously approved by both boards and remains subject to regulatory clearances and shareholder approval.
Netflix and WBD have filed under the Hart-Scott-Rodino Act and are engaging with regulators in the US and Europe. Closing is still expected within 12 to 18 months of the original merger agreement.
Netflix has chosen certainty over complexity. Cash talks, and this deal now moves faster.
iWorld
Prime Video to stream Tamil thriller Exam from May 15
Seven-episode series from National Award-winner A. Sarkunam streams in India and 240-plus countries
MUMBAI: Prime Video announced on April 27th that Exam, a taut seven-episode suspense drama set against the crucible of high-stakes competitive testing, will premiere on May 15th in India and across more than 240 countries and territories worldwide.
Written and directed by A. Sarkunam, a National Award-winner, the series is produced under the Wallwatcher Films banner by the creative duo Pushkar and Gayatri, who have previously delivered Suzhal: The Vortex (both seasons) and Vadhandhi: The Fable of Velonie for the platform. Dushara Vijayan and Aditi Balan lead the cast, with Abbas in a pivotal role.
The show will stream in Tamil with dubbed versions in Telugu, Hindi, Malayalam, and Kannada, and subtitles in 15 languages, including English, a distribution sweep that underscores Prime Video’s push to globalise Indian regional content.
Nikhil Madhok, director and head of originals at Prime Video India, framed the series as both timely and commercially astute. “Exam is a very timely and relevant story that captures the emotional intensity of competitive exams and masterfully transforms it into a thrilling high-stakes drama,” he said. “We believe it is a story that will resonate deeply with millions.” Madhok noted that it was a privilege to once again collaborate with Pushkar and Gayatri following the success of Suzhal and Vadhandhi.
For Pushkar and Gayatri, the series is as much a moral reckoning as a thriller. “With Exam, we wanted to dig into ambition, injustice, and those moral crossroads that people face when pushed to the edge,” the creative producers said. “At the heart of this story is a young woman who refuses to remain powerless. Her journey is not about glamorising defiance, but about exploring the emotional and ethical cost of standing up to a system stacked against her.” They described Prime Video as “an incredible collaborator” and “the perfect home” to bring the series to global audiences.
Wallwatcher Films, which Pushkar and Gayatri founded and run, has been on a productive streak with the platform. Beyond Exam, the company is also readying Vadhandhi Season 2 for Prime Video, making the duo one of the platform’s most active regional creative partners.
The real exam, it seems, is for Prime Video itself: can a Tamil drama about systemic injustice and a young woman’s defiance crack audiences from Chennai to Chicago? If Pushkar and Gayatri’s track record is anything to go by, the answer is likely yes, and the results will be out on May 15th.
