Netflix leads bid to acquire warner bros discovery in $28-per-share deal
Netflix has emerged as the leading bidder to acquire media conglomerate Warner Bros Discovery in a deal reportedly valued at $28 per share, according to multiple US media reports.
The development comes after Warner Bros Discovery parent company of CNN, HBO, Warner Bros film studio and streaming platform HBO Max formally put itself up for sale in October following several unsolicited acquisition offers. The move halted a previously planned restructuring that would have split the company into two separate divisions: one for streaming and studios and another for traditional cable operations.
According to Bloomberg, Netflix advanced to the second round of bidding alongside Skydance-owned Paramount and Comcast, parent company of NBCUniversal, during negotiations that continued over the US Thanksgiving holiday. Paramount was also reported to have submitted a competing bid valued near $27 per share.
Bloomberg further reported that Netflix and Warner Bros Discovery had entered exclusive talks covering its TV and film studios as well as HBO Max. The streaming platform is reportedly securing a multibillion-dollar bridge loan to support the potential acquisition.
If finalized, the deal would significantly expand Netflix’s content portfolio and give it control of globally recognised entertainment brands, including HBO and Warner Bros studios. However, analysts say such a merger would likely face intense antitrust scrutiny in the United States and other major markets.
The prospect of Warner Bros Discovery being purchased by Netflix has drawn notable criticism from some Hollywood figures concerned about the future of theatrical releases. Filmmaker James Cameron recently said on the podcast The Town that such a takeover would be “a disaster.”
Netflix and Warner Bros Discovery have not issued public statements in response to the reports.
