Overview
- Comcast president Mike Cavanagh said the company did not expect to prevail and kept its offer light on cash to avoid stressing the balance sheet.
- Cavanagh confirmed Comcast proposed spinning out NBCUniversal into a publicly traded company that would merge with Warner Bros.
- Warner Bros. Discovery selected Netflix’s offer for the Warner Bros. studio and HBO/HBO Max assets.
- Paramount launched a hostile tender offer for Warner Bros. Discovery at $30 per share on Monday.
- Cavanagh said Comcast will focus on its existing assets, citing NBC, Peacock, studios and theme parks, and he acknowledged the board’s preference for cash-heavy proposals.