Paramount, Netflix, and Comcast Make Bids for Warner Bros. Discovery
Los Angeles – Paramount, Netflix, and Comcast have all submitted bids to acquire portions of Warner Bros. Discovery (WBD), igniting a high-stakes battle for control of the media giant housing iconic brands like Warner Bros., HBO, CNN, and DC Comics. the news, first reported by The New York times, confirms weeks of speculation surrounding the future of WBD, which has become a takeover target following a period of financial struggles.
paramount’s bid is for the entirety of WBD, including its cable networks, while Netflix and Comcast are focused on acquiring the studios and streaming assets. This distinction is key, as WBD announced plans earlier this year to split into two companies in 2026 – one focused on studios and streaming, and another controlling its linear networks.
The potential acquisition comes less than two years after WBD was formed through a $43 billion merger of discovery Communications and WarnerMedia, engineered by then-CEO David Zaslav, formerly of Discovery and NBC. The company’s stock price has remained depressed as the 2022 deal, marked by cutbacks, writeoffs, and rebrands.
Paramount appears uniquely positioned due to its interest in the entire company, including less-desirable assets. Further bolstering its position is the financial backing of CEO David Ellison’s father, Larry Ellison, co-founder of Oracle and one of the world’s wealthiest individuals, and his support for President Trump, possibly easing the regulatory review process.
Comcast, though, may face headwinds due to President Trump’s longstanding animosity towards MSNBC (now MS NOW) and figures associated with NBC, including late-night host Seth Meyers and Comcast CEO Brian roberts.
Any deal will require approval from international regulators, especially in Europe, where standards are typically more stringent. Stateside,the size of Paramount’s highest bid – exceeding $60 billion – could prompt scrutiny from state attorneys general concerned about potential monopoly threats to consumers.
HBO and Max content head Casey bloys acknowledged the uncertainty among WBD employees, stating he encourages staff to focus on controllable aspects of their work, as “all of that theoretical” possibility is “kind of a waste of energy.”
Jill Goldsmith contributed to this report.
