Netflix is reportedly preparing an all-cash offer for Warner Bros Discovery's studios and streaming operations, aiming to accelerate a sale that has encountered political opposition and competition from rival bidder Paramount Skydance. This move follows a previous, mixed cash-and-stock proposal from Netflix, which valued Warner Bros' film and streaming assets at US$82.7 billion. Warner Bros' board has expressed a preference for Netflix's deal, citing concerns over the debt financing required for Paramount's US$108.4 billion bid for the entire company, which includes its cable TV business. The intense bidding war for Warner Bros' valuable content library and franchises like Harry Potter and Game of Thrones highlights the evolving media landscape dominated by streaming platforms.