Overview
- Paramount is pursuing an offer for the entire company, while Comcast and Netflix are evaluating bids limited to WBD’s studios and streaming assets.
- Semafor reports Paramount’s most recent unsolicited proposal valued WBD at $23.50 per share with a heavy cash component.
- The Wall Street Journal report cited by Awful Announcing marks the first clear indication of Netflix’s formal interest in WBD.
- WBD continues to prepare a separation of its studios-and-streaming operations from legacy cable networks targeted for April 2026, a structure that could shape deal mechanics and tax treatment.
- Any transaction would face financing questions and antitrust scrutiny, and a carve-out could leave cable properties such as TNT Sports without obvious buyers, as Comcast’s Versant has signaled no interest in additional networks.