Netflix Said To Have Made 85% Cash Bid For Warner Bros. Discovery: Report
Synopsis
Warner Bros has received initial bids from Paramount Skydance, Comcast, and Netflix.
- CNBC confirmed Netflix’s proposal on Thursday morning.
- Comcast and Netflix, unlike Paramount, are attempting to acquire the company’s movie and television studios and streaming service.
Netflix Inc. (NFLX) has reportedly submitted a predominantly cash offer to acquire Warner Bros. Discovery (WBD), believed to consist of 85% cash and the rest in stock.
CNBC confirmed the proposal on Thursday morning.
Bidding For WBD
Warner Bros. drew investor attention after the entertainment giant received initial bids from Paramount, Skydance, Comcast, and Netflix and asked the potential buyers to present improved offers.
Comcast and Netflix, unlike Paramount, are attempting to acquire the company’s movie and television studios and its streaming service, HBO Max, alone. The companies are not interested in Warner Bros. Discovery’s cable TV networks, including CNN and TNT Sports.
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