Overview
- First-round nonbinding bids arrived Nov. 20 from Paramount Skydance, Netflix and Comcast, according to multiple outlets.
- Paramount Skydance is pursuing the entire company, while Netflix and Comcast are focused on acquiring Warner’s studios and HBO/HBO Max, not the linear cable networks.
- Paramount’s offer is backed by David and Larry Ellison, and earlier bids reported around $23.50 per share were rejected as too low.
- Warner Bros. Discovery aims to pick a path around year-end, though any deal would likely face roughly a year of regulatory review, and the company could still proceed with a previously outlined split.
- Reporting describes active lobbying around the process, including a Netflix charm offensive and public pushback from Sen. Elizabeth Warren and the Writers Guild of America, as filmmaker James Cameron voiced support for Paramount and criticized Netflix’s release model.