Shares of both Paramount Skydance and Netflix took a dip in response to the bidding news, a sign the market is closely watching the evolving landscape of streaming and studio consolidation.
Second Wave of Bids: Netflix Joins the Battle
Warner Bros. Discovery has received a new round of offers, including a “mostly cash offer” from Netflix, making WBD the target of an increasingly competitive bidding war. Over the past weekend, bankers representing Paramount Skydance, Comcast, and Netflix reportedly scrambled to prepare improved revised offers.
One insider told Reuters that the ongoing bidding “reflects the rare and extraordinary strategic value of Warner Bros. Discovery.”
The company’s assets include:
- HBO and Max
- CNN
- Warner Bros. Studios
- Discovery Channel
- A massive catalog of high-value intellectual property
For a buyer, the transaction represents a transformative leap in content ownership, distribution control, and streaming leverage.
Why Warner Bros. Discovery Rejected the Earlier $60 Billion Offer
In October, Warner Bros. Discovery’s board rejected a nearly $60 billion bid from Paramount Skydance. According to sources familiar with the discussions, the board believes the company can secure either a higher bid or more favorable deal terms by keeping its options open.
