Paramount Skydance , Comcast and Netflix are bidding to buy Warner Bros Discovery , Reuters reported on Thursday, but each company's bid faces its own political and regulatory risks.
The bidding war for WBD pits Paramount Skydancee – the burgeoning media company run by independent movie producer David Ellison and backed by his father, billionaire Trump donor and Oracle founder Larry Ellison – against Brian Roberts' media behemoth Comcast and streaming giant Netflix.
Warner Bros. Discovery (NASDAQ:WBD), the influential entity behind HBO, Max, Warner Bros.
Warner Bros Discovery Inc (NASDAQ:WBD, XETRA:J5A) reported mixed financial results for the third quarter, sending its shares almost 6% lower in early trade on Thursday. The media giant posted total revenues of $9 billion for the quarter, a 6% decline from the same period last year and below Wall Street expectations of roughly $9.73 billion to $9.81 billion.
The victor will walk away with the rights to beloved characters including Harry Potter, Superman, and Tony Soprano.
Warner Bros is continuing its partnership with “shared reality” venue operator Cosm, slating a new version of Harry Potter and the Sorcerer's Stone for 2026. The date of the Cosm run has not been revealed. Tickets will go on sale in “early 2026,” the companies said Monday.
Preliminary bids for Warner Bros. Discovery are due Nov. 20 when suitors must submit first-round, non-binding offers, Deadline hears. David Ellison's Paramount, which made three overtures before the formal sale process started, will be ready. Comcast and Netflix, both of which hired investment banks to explore a deal, are also expected to jump in.
Paramount, Netflix and Comcast are eyeing potential bids for Warner Bros. Discovery.
Maybe Warner Bros. Discovery Inc. (NASDAQ: WBD) was America's worst-run entertainment company.
"There are all sorts of ways Larry can help and he is 100% committed,” a source told On The Money.
Warner Bros Discovery said on Thursday it had initiated a review of strategic alternatives in response to unsolicited interest from multiple parties.
Zacks.com users have recently been watching Warner Bros. Discovery (WBD) quite a bit.