Warner Bros. Discovery rises as potential sale boils down to bidding war between Paramount, Comcast, and Netflix
The potential sale of Warner Bros. Discovery appears to have boiled down to three contenders: Paramount Skydance, Comcast, and Netflix.
All three entertainment giants are prepping bids for WBD, with a deadline of next Thursday for first-round offers, according to Wall Street Journal reporting. Warner Bros. shares climbed more than 2% in premarket trading on Friday.
Per the WSJ, Comcast and Netflix are mostly interested in WBD’s streaming assets, while Paramount — which is said to have had three offers rejected already — wants to buy the whole company.
According to people familiar with the companies’ plans, Paramount believes it has the clearest path toward regulatory approval, as it thinks Netflix’s cofounder, Reed Hastings, having supported Kamala Harris in the 2024 presidential election could be a significant hurdle in getting a deal approved, per the WSJ.
Per the WSJ, Comcast and Netflix are mostly interested in WBD’s streaming assets, while Paramount — which is said to have had three offers rejected already — wants to buy the whole company.
According to people familiar with the companies’ plans, Paramount believes it has the clearest path toward regulatory approval, as it thinks Netflix’s cofounder, Reed Hastings, having supported Kamala Harris in the 2024 presidential election could be a significant hurdle in getting a deal approved, per the WSJ.
