US EditionNetflix emerges as the highest bidder for Warner Bros Discovery, source says
Netflix leads with a cash-heavy offer and aims to bundle HBO Max, while Paramount challenges the sale's fairness amid competitive bidding, sources said.
- A source told Reuters on Thursday Netflix has put in the highest bid for Warner Bros Discovery, and neither Netflix nor Warner Bros Discovery immediately responded to Reuters' requests for comment.
- After asking for higher offers, Warner Bros Discovery reportedly received sweetened bids from Paramount, Comcast and Netflix earlier this week and sought another round by Thursday, the Wall Street Journal reported.
- CNBC reported Netflix's proposal consisted of 85% cash for the assets it seeks to acquire, and Reuters said the deal would bundle Netflix with HBO Max, reducing streaming costs for consumers.
- Paramount's legal team raised concerns about fairness, citing media reports favoring Netflix, while David Ellison, leader of Paramount Skydance, asked if WBD formed an independent sale committee.
- With few public responses from rivals, Reuters noted Paramount and Comcast did not immediately respond, and Reuters could not independently verify bid reports in the unfolding sale process.
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Warner Bros. is said to begin exclusive deal talks with Netflix
Warner Bros. Discovery is in exclusive talks to sell its film and TV studios and HBO Max to Netflix for an undisclosed sum. Netflix is reportedly offering a $5 billion breakup fee if regulators block the acquisition. This potential deal, which could be announced soon, would significantly reshape the entertainment landscape.
Netflix becomes frontrunner in bidding war for Warner Bros. Discovery, sources say
Netflix’s most recent offer, submitted on Thursday, valued the Warner Bros. studio, HBO Max streaming service and related parts of the company at around $28 per share, sources said.
Netflix Wins the Warner Bros. Discovery Bidding War, Enters Exclusive Deal Talks
Warner Bros. Discovery is moving forward with exclusive deal talks with Netflix, TheWrap has learned. WBD has selected Netflix after the streaming giant offered $30 a share for the studio and streaming assets, according to two people familiar with the deal talks. Netflix securing a win over rival suitors Paramount and Comcast represents a stunning turnaround from just two months ago, when co-CEO Greg Peters shared big media mergers as not having…
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- 37% of the sources lean Left, 36% of the sources are Center
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