Overview
- Nonbinding first-round offers are due Nov. 20, with Paramount Skydance pursuing a full buyout and Comcast and Netflix preparing bids focused on the studios and HBO Max.
- Paramount Skydance called a widely cited report of a $71 billion bid backed by Saudi, Qatari and Abu Dhabi sovereign funds "categorically inaccurate."
- Comcast is exploring an offer for Warner’s studio and streaming assets, with reporting noting CEO Brian Roberts’ recent Saudi Arabia trip and investor skepticism about financing and antitrust risk.
- The board plans to review bids before Thanksgiving and could decide by year-end, while retaining a fallback plan to split WBD into separate Warner Bros. and Discovery Global businesses.
- Any deal would face intensive Justice Department review, potential CFIUS scrutiny if foreign capital is involved, and political attention that has already included a congressional warning about a Netflix–HBO Max combination.