Netflix Makes a Power Play with Cash-Heavy Warner Bros Offer

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Warner Bros. Discovery is once more the focus of potential acquisitions, with multiple parties submitting new offers. Sources familiar with the discussions, who wish to remain anonymous, report that the company spent Monday evaluating a second set of bids.

Netflix made an offer, primarily in cash, and sources suggest a deal could be finalized within the next few weeks.

Sources say that bankers representing Paramount Skydance, Comcast, and Netflix worked throughout the Thanksgiving holiday to strengthen their offers. Paramount’s bid is largely backed by the family of Oracle co-founder Larry Ellison, with additional funding from Apollo Global Management and investors in the Middle East.

The offers submitted are legally binding, meaning Warner Bros. can finalize a deal swiftly if the terms are acceptable. However, sources say the company hasn’t officially accepted any bids yet and remains open to considering other proposals with more favorable conditions.

Netflix, the leading streaming service, is reportedly seeking a large loan worth billions of dollars. According to a Bloomberg report, Warner Bros. is hoping to sell its shares for $30 each, a price that former chairman John Malone believes is achievable. However, Netflix’s stock closed at $23.87 on Monday, valuing the company at around $59 billion.

Warner Bros., the company behind HBO, CNN, and a well-known movie studio, announced in October that it was open to being bought after receiving unexpected offers for portions of its business. Paramount, under the leadership of David Ellison, had previously made three offers to acquire the entire company, including its cable channels.

Both Comcast and Netflix are interested in purchasing Warner Bros. film studios and the HBO Max streaming service. Even if either company succeeds, Warner Bros. still intends to separate its cable channels into a new company, currently named Discovery Global, which they expect to finalize around the middle of next year.

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2025-12-02 09:14