Overview
- Paramount Skydance, Netflix and Comcast submitted first-round, nonbinding offers on Nov. 20, with Paramount Skydance pursuing the entire company and the other two focused on the studios and HBO Max.
- WBD requested sweetened bids by Dec. 1 and may enter exclusive negotiations after reviewing proposals, with a board decision targeted by late December and any deal likely facing a lengthy regulatory review.
- Paramount Skydance’s offer is backed by David and Larry Ellison, and follows earlier bids the WBD board rejected, including a nearly $24-per-share proposal reported by Reuters.
- Netflix has mounted a lobbying push to assuage antitrust concerns and is pitching a purchase of Warner’s studio and streaming assets, according to the New York Post.
- Antitrust and political scrutiny remains a central factor, as regulators and lawmakers assess consolidation risks and WBD keeps open the option to proceed with its previously announced separation into Warner Bros. and Discovery Global.