Deepak Pathak

Let's turn our attention to entertainment now.

Netflix is working to revise its bid for Warner Brothers Discovery, potentially shifting to an all-cash offer, according to sources.

The move is aimed at speeding up a deal that has faced pushback from Washington and competition from rival bidder Paramount Skydance.

For more, let's get to Bloomberg's Lucas Shaw, who covers media and entertainment.

Hit this story hard.

And Lucas, I mean, the all-cash narrative, why is that important?

Why would that be the winning formula for Netflix?

One of the knocks against the Netflix deal, as perpetuated at least by Paramount's guidance to rival bidder, has been that Paramount's deal is all cash and that Netflix deal contains between $4 and $5 cash.

a share of stock.

Now, Netflix stock is pretty valuable, something that you'd think people would want to have, but most people would rather just take the cash now and get paid.

And so that, I think, Netflix hopes will accelerate on many fronts.

It'll assuage any shareholder concerns about their bid and also eliminate any potential complexities as they continue to negotiate and pursue it.

Lucas, when we were reporting this out, you know, the Netflix response and the tit for tat, you know, Paramount suing earlier this week and nominated directors to the board.

Do you get the sense that Netflix think this will work, that they now are back in sort of the lead in a tight race for the assets?

Well, I think if you were to talk to the people at Netflix, they've never felt they were out of the lead, right?

They are obviously facing a stiff challenge from Paramount, but they're the ones who have an approved deal, and they have yet to see kind of some...

They have yet to see shareholders say en masse, we don't want the Netflix deal.

They have yet to see the federal government say, we're going to block this deal.

There are certainly some kind of blinking yellow lights, but I don't think they've seen anything yet that makes them too concerned.

They seem still pretty confident that they'll get this done.