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A source close to WBD said the media giant believes this is now a “horse race” between Paramount Skydance and Netflix whose outcome is a “toss up,” giving it “50 50” odds.
Warner Bros. Discovery is officially on the block.
Rich Greenfield, LightShed Partners partner and co-founder, joins 'Squawk Box' to discuss the bidding war for Warner Bros. Discovery.
Paramount is reportedly close to a deal to revive the long dormant “Rush Hour” franchise, as the request of President Donald Trump.
Paramount Skydance has the inside track to acquire Warner Bros. Discovery, according to well-placed media executives — and it's all about a cable network that has a troubled relationship with Donald Trump.
Paramount Global (NASDAQ:PARA), Comcast Corporation (NASDAQ:CMCSA, XETRA:CTP2), and Netflix Inc (NASDAQ:NFLX, XETRA:NFC) have submitted nonbinding bids to acquire all or parts of Warner Bros Discovery Inc (NASDAQ:WBD, XETRA:J5A), according to people familiar with the matter. Paramount is seeking to acquire the entire company, including cable networks such as CNN, TBS, and HBO Max/Discovery+, along with Warner Bros.
Paramount Skydance made another offer for Warner Bros. Discovery this week, while Netflix and Comcast bid on the company's studios and streaming assets, according to people familiar with the matter.
Paramount Skydance was awarded the rights to air most Champions League games in the U.K. and Germany, and also has U.S. media rights for the competition.
Of the three bidders, only Paramount is pursuing all of Warner Discovery, including cable channels.
Paramount is to submit its bid of around $23.50 a share for Warner Bros. Discovery this week.
The company has the strongest motivation and resources to get a deal done.