Dhaka, Jan. 21 -- Netflix has revised its $72 billion acquisition of Warner Bros. Discovery into an all-cash transaction, streamlining the deal and providing greater certainty for Warner Bros. shareholders.

The streaming giant initially proposed a combined cash-and-stock offer, valuing Warner Bros. shares at $27.75 each, with a total enterprise value of $82.7 billion including debt. Under the amended all-cash structure, the per-share value remains unchanged at $27.75, while Warner Bros. stockholders will also receive additional value through shares of Discovery Global following its separation from Warner Bros.

Both companies' boards have approved the revised all-cash deal, which is expected to simplify the transaction process and accele...