In 5G cellular networks, device-to-device (D2D) communication has undoubtedly become a general trend to increase spectral efficiency while reducing communication delay. In particular, D2D technology is able to bear more and more services, which help user-centred and personalized services in future wireless networks. However, several technical issues and challenges are associated with the deployment of D2D communications. In this paper, we tackle the spectrum allocation problem of D2D enabled cellular networks. By employing the major ideas of cooperative game theory, we design a novel two-stage resource allocation protocol based on the weighted utilitarian and meta bargaining solutions. The purpose of bargaining solutions is to clarify what could be the best solution when game players share a surplus that they can jointly generate. According to the main advantages of step-by-step interactive bargaining mechanism, our proposed solution takes various benefits in a rational way. Some simulation results and numerical analysis are provided to confirm the effectiveness of our two-stage bargaining approach and validate the accuracy of the proposed spectrum allocation scheme. Finally, we address some challenges and identify research areas for the future study. INDEX TERMS D2D multicasting, spectrum allocation, meta bargaining solution, weighted utilitarian bargaining solution, cooperative game theory.