Warner Bros. Discovery Demands Increased Second-Round Bids by Dec. 1
Media mergers and acquisitions are heating up as Warner Bros. Discovery (WBD) requests higher second-round bids by December 1st. The entertainment giant is fielding interest from several major companies, including Paramount Skydance, Comcast, and Netflix.
Deadline for Increased Bids
WBD has confirmed its requirement for second-round bids that exceed initial proposals made on November 20. Reports indicate that following this new bidding round, Warner Bros. Discovery may enter exclusive negotiations with a selected company.
Ongoing Interest in Warner Bros. Discovery
Recently, WBD announced a significant influx of acquisition interest from multiple parties. The company is in the process of reviewing these offers as it contemplates a strategic split into two separate entities by April 2026. This planned division will involve separating the Warner Bros. business, which includes HBO Max, from Discovery Global, the TV-focused segment.
Potential Buyers and Their Interests
- Paramount Skydance: Interested in acquiring Warner Bros. Discovery outright. Previous offers were rejected, including a bid of $23.50 per share, comprising 80% cash and 20% stock.
- Comcast: Looking to acquire WBD’s streaming and studio operations while excluding the cable TV business.
- Netflix: Also targeting WBD’s streaming and studio operations. Additionally, Netflix has expressed commitment to honor existing theatrical distribution agreements for Warner Bros. films if its bid is successful.
Leadership and Future Steps
David Ellison, the CEO of Paramount, has been vocal about his intent to secure a deal. His previous bid was backed by notable figures, including Oracle founder Larry Ellison and RedBird Capital Partners.
Despite the ongoing negotiations, the WBD board retains the option to reject all bids and proceed with its original plan of splitting into two companies.
