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Netflix Reportedly Interested in Buying Warner Bros. Discovery After Paramount Eyes Bid

Paramount Skydance, backed by Larry Ellison, plans a $22-$24 per share cash-heavy offer for Warner Bros. Discovery, intensifying competition with Netflix and others amid media consolidation.

  • Warner Bros. Discovery revealed its intention to divide its streaming and studio operations from its worldwide TV networks to provide more distinct financial reporting and enhance shareholder value.
  • This move comes amid rapid media consolidation, highlighted by the August merger of Paramount and Skydance and interest from Comcast and Netflix in WBD.
  • Paramount-Skydance is reportedly considering a mostly cash bid for Warner Bros. Discovery, estimated to be between $22 and $24 per share, with partial financial support from Larry Ellison.
  • Netflix CEO Ted Sarandos appeared recently with WBD chief David Zaslav, adding weight to serious talks about Netflix acquiring WBD’s studio and streaming segments despite integration challenges.
  • Such an acquisition could boost Netflix’s content and theatrical reach, but WBD’s debt and regulatory hurdles suggest the deal could take significant time to complete.
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World of Reel broke the news in on Friday, September 19, 2025.
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