Acquisition Offers for Warner Bros Discovery

Warner Bros Discovery is attracting attention with acquisition bids from its competitors. Paramount Skydance, Comcast, and Netflix are emerging as frontrunners in the race to bid for the studio.

This information has been confirmed according to a source close to the matter on November 20th. Paramount is expected to make a bid targeting all of Warner Bros Discovery, especially its cable television networks.

This move is being supported by Larry Ellison, co-founder of Oracle, who holds a controlling stake in the studio. Ellison is among the richest people in the world.

A potential merger could strengthen Paramount's presence in cinemas. Data suggests that this merger could bring the company a 32% share in the North American cinema market. Furthermore, it could also allow for the merging of Paramount+ and HBO Max streaming services.

Reuters reported that the board of directors of Warner Bros Discovery has rejected a cash offer that values the company at nearly $24 per share. This offer values the studio at $60 billion.

The board has announced that it will evaluate strategic options for the studio. Comcast, a corporate partner of NBCUniversal, is interested in Warner's film and television studios. The entertainment unit has characters like Superman and Batman that could be utilized in films and theme parks.

Netflix is also showing interest in Warner's division; the streaming giant aims to gain access to a significant film library including Harry Potter and Lord of the Rings.

Warner Bros Discovery did not immediately respond to Reuters' request for comment. It was noted that the involved parties did not provide any comments regarding the acquisition interest.