Entertainment
Netflix Moves Closer Acquisition of Warner Bros
Netflix is reportedly the frontrunner in the bid to acquire Warner Bros Discovery, as the streaming giant enters exclusive negotiations in a deal valued at $28 per share, according to multiple US media outlets.
The potential acquisition marks one of the biggest developments in the global entertainment and streaming industry.
Warner Bros Discovery, the parent company of HBO, CNN, and Warner Bros film studios, officially put itself up for sale in October after receiving several unsolicited offers. This move halted its earlier plan to split into two separate divisions, one for streaming and studios, and another for traditional cable networks.
Initially, Paramount, recently acquired by the billionaire tech family of Oracle founder Larry Ellison, expressed interest in buying Warner Bros Discovery. However, Netflix is now leading the second round of bids alongside competitors like Paramount Skydance and Comcast, the owner of NBCUniversal. Sources cited by Bloomberg say the negotiations continued through the Thanksgiving holiday.
Paramount also submitted a competitive offer estimated at $27 per share, CNN reported.
Bloomberg also revealed that Netflix and Warner Bros Discovery entered exclusive talks regarding the sale of the company’s TV and film studios, as well as the premium streaming platform HBO Max.
With over 280 million subscribers worldwide, Netflix is reportedly securing a bridge loan worth tens of billions of dollars to finance the acquisition and expand its already massive content production empire. If successful, the deal would add globally recognized assets such as HBO, Warner Bros studios, CNN, and a significant library of premium titles.
However, analysts predict that the acquisition would face intense scrutiny from US and international antitrust authorities due to its industry-reshaping impact.
Several major Hollywood creators have already expressed concerns. “Titanic” director James Cameron said on podcast The Town that a Netflix takeover of Warner Bros would be “a disaster,” citing worries that Netflix may restrict theatrical releases in favor of streaming exclusives.
Both Netflix and Warner Bros Discovery have yet to issue public statements regarding the reports.
