Paramount, Comcast and Netflix prepare bids for Warner Bros. Discovery - WSJ

Investing.com -- Paramount, Comcast and Netflix are preparing bids for Warner Bros. Discovery, with a November 20 deadline for non-binding first-round offers.

Warner Bros. Discovery is conducting an auction process with the goal of completing it by the end of 2025, according to a report from the Wall Street Journal, citing people familiar with the matter.

Paramount plans to participate in the formal auction and remains committed to acquiring the entire company, sources said. The David Ellison-led company had previously submitted multiple unsolicited offers to buy Warner Bros. Discovery, which subsequently put itself up for sale.

Comcast and Netflix have different acquisition targets in mind. Both companies are primarily interested in the Warner Bros. movie and television studios and the HBO Max streaming service, but not Warner’s cable network holdings, which include CNN, TNT and Discovery Channel.

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