Overview
- WBD asked bidders to submit sweetened second-round offers by Monday, Dec. 1, after first-round, nonbinding bids arrived Nov. 20.
- Paramount-Skydance is pursuing the entire company, while Netflix and Comcast are focused on acquiring the Warner Bros. studios and HBO Max.
- The company could enter exclusive negotiations after reviewing the improved offers, with a decision window expected around late December.
- Any deal will likely undergo extensive antitrust review that could take roughly a year, as bidders continue due diligence under NDAs.
- Paramount-Skydance’s proposal is backed by Larry Ellison, and separate reporting says Netflix is lobbying WBD and regulators to ease antitrust concerns.