Netflix up after reports of all-cash offer for Warner Bros

Streaming giant Netflix's NFLX.O shares up 1% at $91.24 premarket

NFLX is preparing an all-cash bid for Warner Bros Discovery's WBD.O studios and streaming assets, source tells Reuters

Changes designed to expedite sale of WBD assets, which will take months to close and has faced opposition from politicians and rival bidder Paramount Skydance PSKY.O, source says

NFLX's earlier $82.7 bln bid for Warner Bros' film and streaming assets was a cash-and-stock deal

WBD has favored NFLX's offer over PSKY's revised $108.4 bln hostile bid

WBD shares inch 0.5% lower, while PSKY shares flat

As of last close, NFLX up 7.5% over the past year but is down 12.5% since the deal was disclosed