Overview
- Netflix submitted a mostly cash offer for the studios and HBO/HBO Max, supported by bridge financing reported to be in the tens of billions of dollars.
- Paramount Skydance made an all‑cash bid for the entire company, with financing from the Ellison family alongside Apollo, RedBird and Saudi, Qatari and Abu Dhabi sovereign funds, according to trade reports.
- Comcast also delivered a proposal focused on acquiring the studios-and-streaming business, leaving the linear TV networks to a potential spin-off.
- The bids are binding, allowing the board to move quickly toward a preferred bidder or a third round, as WBD continues to keep its planned split into Warner Bros. and Discovery Global on the table.
- Reports say a Netflix combination would face intensive antitrust scrutiny from U.S. regulators, while WBD is seeking higher valuation levels after rejecting earlier offers near $60 billion and signaling interest around $30 per share.