Overview
- Reuters-linked reporting indicates NBCUniversal is reviewing WBD’s financials and has hired Goldman Sachs and Morgan Stanley to weigh a bid focused on the studio/streaming business.
- Netflix has retained Moelis & Co. to examine WBD’s books as it considers whether to make an offer, according to prior Reuters reporting.
- Paramount’s Skydance has made multiple offers in recent weeks, signaling continued interest in a deal.
- WBD has initiated a formal strategic review to evaluate proposals that largely target the studios and Max streaming operations rather than the linear cable networks.
- Management continues to prepare a potential 2026 split separating studios/streaming from cable networks, even as bidders assess transactions centered on the former assets.