Netflix is preparing to launch a full cash offer for the studio and streaming divisions of Warner Bros. Discovery, according to sources.

This strategic change aims to accelerate the sales process, estimated to take several months. Netflix's initial offer, valued at $82.7 billion, combined cash and stock, targeting only film and streaming assets. In competition, Paramount Skydance made a cash-only offer of $108.4 billion for the entire Warner Bros. Discovery group, but the Warner Bros. board favored the Netflix offer, considering it less risky. The battle for acquisition is intense, given the value of franchises like "Harry Potter" and "Game of Thrones."

Paramount has sued Warner Bros. for additional information and claims that its offer is superior. Netflix would pay a termination fee of $5.8 billion if it does not obtain the necessary approvals, while Warner Bros. would pay $2.8 billion if it backs out of the deal.