WBD Sale Heats Up as Netflix Leads and Paramount Cries Foul

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Warner Bros. Discovery has entered another major phase of its ongoing sale process.

The company received new bids on Thursday, and Netflix is now considered the leading candidate.

The Netflix bid

This round of negotiations has been more competitive, and Netflix, Paramount, and Comcast are still actively involved.

Netflix is reportedly offering the most attractive deal, both in terms of price and how it’s structured. Their offer is primarily cash, and it’s getting closer to what David Zaslav is hoping for – around $30 per share.

Netflix and Comcast are interested in buying Warner Bros. Discovery’s studio and streaming services, but Paramount is making an offer to purchase the whole company.

Paramount Pushes Back

Paramount is not happy with how things are unfolding.

Paramount has sent a letter to Warner Bros. Discovery (WBD) expressing concerns that the bidding process isn’t fair. They believe they are the best company to partner with, and this disagreement is escalating the situation.

Paramount believes Warner Bros. Discovery is running a biased sale process that seems to favor Netflix. They’re concerned that Warner Bros. Discovery may not have formed a truly independent group of board members to oversee the sale, which is vital for a fair auction. Paramount argues that without this proper oversight, the process appears rigged, putting other potential buyers at a disadvantage.

Paramount included a $5 billion penalty in their offer – meaning they’d have to pay that amount to Warner Bros. Discovery if they reach an agreement but the deal falls apart – demonstrating their belief that the deal will be approved by regulators.

Comcast still in the mix

Comcast recently created a separate company called Versant Media Group by spinning off its cable networks and important digital properties. This move is expected to help the company gain regulatory approval and improve its chances of acquiring assets from Warner Bros. Discovery (WBD).

Winner Could Be Announced Next Week

Recent reports suggest Warner Bros. Discovery could choose a buyer for the division as soon as next week. This faster-than-expected timeline indicates they’re moving quickly towards a final decision and the sale is nearing completion.

The ultimate decision will impact not only Warner Bros. Discovery’s future, but the entire entertainment industry, given what’s at stake with ownership of DC Comics, HBO, and Warner Bros. Pictures.

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2025-12-05 01:03