Overview
- First-round, nonbinding offers are due Nov. 20, with Paramount, Comcast and Netflix expected to submit bids after gaining data-room access, and a buyer decision could come by year-end.
- Paramount has made multiple unsolicited proposals for the entire company that the board rejected as too low, including a most recent offer of about $23.50 per share.
- Comcast and Netflix are evaluating bids focused on Warner’s streaming and studio assets rather than its legacy cable networks.
- Warner Bros. Discovery updated CEO David Zaslav’s employment and stock-option agreements to preserve vesting in reverse spinoff or change-in-control scenarios and to extend his potential term to 2030 under specified conditions.
- Rep. Darrell Issa urged federal regulators to scrutinize a possible Netflix acquisition of HBO Max and studio assets, warning it could push combined streaming share above a presumptively problematic 30 percent threshold.