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Warner Bros. Discovery Seeks Higher Bids from Paramount, Netflix, Comcast
Warner Bros. Discovery Seeks Higher Bids from Paramount, Netflix, Comcast
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BTCCSquare news:
Warner Bros. Discovery (WBD) has called for improved acquisition offers from Paramount Skydance (PSKY), Netflix (NFLX), and Comcast (CMCSA), setting a December 1 deadline. Initial bids, submitted November 20, were deemed insufficient by WBD’s board, prompting the renegotiation. The media giant plans to split into Warner Bros. and Discovery Global by April, with a sale expected to close late December—though regulatory approval may take a year.
Bankers and executives will scrutinize revised bids post-Thanksgiving. All parties have signed NDAs and reviewed WBD’s financials. The MOVE underscores the high-stakes consolidation race in streaming and legacy media, where scale is increasingly critical.
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