Netflix up; submits amended all-cash offer for Warner Bros

Shares of Netflix NFLX.O up 0.7% at $88.61 premarket

NFLX submits an amended all-cash offer for Warner Bros Discovery's WBD.O studio and streaming businesses, winning the unanimous support from the HBO owner's board without increasing the $82.7 billion purchase price - regulatory filing

Under the revised deal, NFLX would pay Warner Bros shareholders $27.75 per share in cash for the film and television studios

The board has maintained that the NFLX merger deal is superior to Paramount Skydance's PSKY $30-per-share cash bid for the co because Warner Bros investors would retain a stake in the separately traded Discovery Global

PSKY shares down 0.9% at $11.70, while those of WBD down 0.6% at $28.42, premarket

NFLX gained ~5% last year