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Paramount, Comcast, Netflix prepare bids for Warner as deadline approaches: WSJ
Paramount aims to acquire all Warner Bros. Discovery assets, while Comcast and Netflix target studios and streaming; bids are due by Nov. 20, with decisions expected by Christmas.
- Ahead of Nov. 20, Paramount, Comcast and Netflix are preparing nonbinding first-round bids for Warner Bros. Discovery, while none responded to TheWrap's requests for comment.
- Comcast and Netflix are preparing bids for Warner Bros. Discovery, while Paramount, led by David Ellison, seeks to acquire the entire company with backing from Larry Ellison.
- WBD planned to split its assets into two companies, with CEO David Zaslav running studios and streaming, CFO Gunnar Wiedenfels leading cable and networks, and Zaslav meeting Brian Roberts last week.
- A decision is expected around Christmas as Paramount and Comcast would gain content to bolster their streaming hubs while Netflix values access to WBD's catalogue.
- Prior offers included bids of $19, $22, and $23.50 per share, with Warner Bros. Discovery being the target of three separate Paramount bids, sources told TheWrap.
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Comcast, Paramount, Netflix near bids for Warner Bros. Discovery
Comcast, Paramount and Netflix are all preparing their own bids for some or all of Warner Bros. Discovery, according to people familiar with the matter.First-round bids are due in the coming weeks, according to one person familiar with the situation. Semafor could not confirm an exact date, but sources told The Wall Street Journal, which first reported the news, that the deadline is Nov. 20.WBD is composed of two distinct units: one covering its…
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Coverage Details
Total News Sources14
Leaning Left4Leaning Right1Center4Last UpdatedBias Distribution45% Left, 44% Center
Bias Distribution
- 45% of the sources lean Left, 44% of the sources are Center
45% Left
L 45%
C 44%
11%
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