Warner Bros. Discovery asks for better offers in its sales process to Paramount, Netflix and Comcast

The bid for the acquisition of Warner Bros. Discovery will have a second round.

The conglomerate is receiving purchase proposals in its sales process, from Paramount Skydance, Comcast y Netflixand has asked the bidders improve your initial offersin a second round which has like deadline Monday, December 1according to Bloomberg reports.

After the deadline with new and better offers is met, Warner Bros. Discovery “could begin a period of exclusive negotiations with one of the companies”according to the media.

The purchase offers were presented in a first round last Thursday, November 20, by the aforementioned, Paramount Skydance, Comcast and Netflix.

After the interest in putting itself up for sale was made public, WBD announced last October that it had received merger and acquisition proposals from several parties, and began a process of reviewing offers. Subsequently, a first round was reached.

It is confirmed that WBD will consider proposals to sell Warner Bros. (HBO, HBO Max, movie studio), by separate from Discovery Global –with which it merged in 2022–. What has been said is in accordance with the plan launched by Warner Bros. Discovery last June, to divide the company into two entities (one dedicated to streaming and content production –Warner, HBO, HBO Max–, and another dedicated to traditional television), something that was expected to be completed by mid-2026.

This WBD plan was created to deal with a downturn in your overall businesswhich has generated a debt close to $38,000 million dollars.

You can find all the details of the WBD division by clicking here.

PARAMOUNT SEEKS TO ACQUIRE ALL WARNER BROS. DISCOVERY

Netflix y Comcast have been considering a deal to acquire Warner Bros.' studio and streaming operations, separate from WBD's cable television business.

As part of its bid to buy Warner Bros., Netflix executives told WBD that the streaming service would honor theatrical distribution agreements of the latter, to keep Warner Bros. films in theaters if their bid is successful.

On the other hand, Paramount Skydance has been preparing an offer since September. The proposal of this particular conglomerate, would seek to acquire all the assets of WBD; from your traditional cable networks, to your movie studio and streaming platforms, i.e. Warner Bros. Discovery in full.

The offer is backed by the Ellison family, including its director, David Ellisonand his father, the billionaire Larry Ellisonfounder of Oracle, who is ranked second on the world list of billionaires, with a net worth that exceeds $360 billion.

Even with new offers on the table for December 1, Warner Bros. Discovery could decide to reject them and stick with the company's plan to split into two parts: Warner Bros., with David Zaslav as CEO, and Discovery Global, headed by current CFO Gunnar Wiedenfels.