(Updates to change headline)
Jan 20 (Reuters) -
Netflix (NFLX.O) submitted an
amended all-cash offer
for Warner Bros Discovery’s (WBD.O) studio and streaming businesses, winning unanimous board support without raising the $82.7 billion price tag, according to a regulatory filing.
The move marks the latest chapter in the race for assets that include Warner Bros’ iconic film and TV studio and its vast library of movies and television shows.
Here is a timeline from the founding of Time Inc and Warner Bros to the company’s latest breakup and potential sale.
Date Event
1922 Time Inc was founded by Henry Luce and
Briton Hadden to house Time magazine, a
weekly news publication that made world
affairs accessible to the average reader.
The first issue of Time magazine was
published in March 1923.
1923 Warner Bros was founded by brothers Harry,
Albert, Sam and Jack Warner as a film studio
in Hollywood. It revolutionized cinema with
the introduction of synchronized sound in
films.
1969 Kinney National Company, a conglomerate that
later transitioned into media, buys Warner
Bros-Seven Arts and later spins off its
non-media businesses.
1972 HBO is founded by Charles Dolan with backing
from Time. It was the first U.S.
subscription-based cable network, offering
uncut, commercial-free movies and live
sports, pioneering premium cable television.
1990 Time Inc merges with Warner Communications
in a $14 billion deal, hailed as a “marriage
of content and distribution,” creating Time
Warner, then the largest media company in
the world.
1996 Time Warner merges with Turner Broadcasting,
gaining Cartoon Network, CNN, TNT and a vast
classic film library.
2000 Time Warner merges with AOL, forming AOL
Time Warner, the largest merger in history
at the time, aiming to merge traditional and
digital media.
2002 AOL Time Warner merger begins to unravel as
AOL’s value collapses with the launch of an
SEC investigation, prompted by allegations
of accounting irregularities and inflated
revenue reports at AOL.
2003 CEO Steve Case resigns from AOL Time Warner.
2004 Time Warner sells Warner Music to a private
equity group led by Edgar Bronfman Jr. for
$2.6 billion.
2009 Time Warner fully spins off Time Warner
Cable, which had already been partially
separated in 2007, ending its role in cable
distribution.
2009 Time Warner spins off AOL.
2013 Time Warner spins off Time, its magazine
division, which includes Time, People,
Fortune and Sports Illustrated, marking its
formal exit from publishing.
2016 AT&amp;T announces acquisition of Time
Warner for $85 billion.
2018 AT&amp;T completes its acquisition of Time
Warner after regulator’s approval, renaming
it WarnerMedia.
2021 AT&amp;T announces it would spin off WarnerMedia
and merge it with Discovery Inc to create a
new standalone media company.
2022 WarnerMedia and Discovery complete their
merger in a $43 billion deal.
June 2025 Warner Bros Discovery announces it would
separate into two companies — one focusing
on streaming and studios businesses, while
the second will house its cable TV assets.
October 2025 Warner Bros Discovery’s board rejects a
Paramount Skydance offer of nearly $60
billion, or $24 per share, a source familiar
with the matter exclusively tells Reuters.
The company says it is weighing a potential
sale amid interest from several suitors.
November 2025 Axios reports that Warner Bros Discovery’s
board wants Paramount Skydance to sweeten
its bid to $30 per share, valuing the
company at $74.34 billion.
November 2025 Warner Bros Discovery receives preliminary
buyout bids from Paramount Skydance, Comcast
and Netflix — who were asked to improve
their offers.
December 2025 Warner Bros Discovery receives a second
round of bids, including a mostly cash offer
from Netflix.
December 2025 Paramount Skydance accuses Warner Bros
Discovery of running an unfair sale process
that favors Netflix over other bidders, CNBC
reports, citing a letter sent by the newly
merged media company.
December 2025 Netflix is in exclusive talks to
buy Warner Bros Discovery’s film and
television studios along with its streaming
assets after offering $28 per share.
December 2025 Netflix agrees to buy Warner Bros
Discovery’s film and TV studios and
streaming division for $72 billion, or
$27.75 per share.
December 2025 Paramount Skydance makes a hostile bid for
Warner Bros Discovery in a deal valued at
$108.4 billion or $30 per share.
December 2025 Warner Bros Discovery’s board rejects
Paramount Skydance’s hostile $108.4 billion
bid, saying it failed to provide adequate
financing assurances.
December 2025 Paramount Skydance amends its offer to buy
Warner Bros Discovery to include a $40.4
billion personal guarantee from Larry
Ellison.
January 2026 Warner Bros Discovery rejects Paramount
Skydance’s amended hostile bid despite Larry
Ellison’s guarantee.
January 2026 Paramount Skydance files lawsuit to force
Warner Bros Discovery to disclose details of
its deal with Netflix and plans to nominate
directors to Warner Bros Discovery’s board.
Netflix amends its bid to an
January 2026 all-cash
offer for Warner Bros
Discovery’s studio and streaming units and
secures unanimous approval from the Warner
Bros board without increasing the $82.7
billion purchase price.

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Netflix has submitted an amended all-cash offer for Warner Bros Discovery’s studio and streaming businesses, maintaining the $82.7 billion price tag and receiving unanimous board support. This follows a timeline of significant events in Warner Bros' history, from its founding in 1923 to its recent merger with Discovery in 2022 and ongoing acquisition discussions with various bidders, including Paramount Skydance. The latest developments highlight Netflix's strategic move in the competitive media landscape.

- Netflix has submitted an all-cash offer for Warner Bros Discovery’s studio and streaming businesses, securing unanimous board approval without raising the $82.7 billion price.  
- This move follows an extended timeline of corporate transitions involving Warner Bros, including its foundation in 1923 and various mergers and acquisitions.  
- The deal represents the latest development in the competitive landscape of media assets, significantly impacting the streaming and film industry.

TIMELINE-A history of Warner Bros as Netflix amends its purchase offer