Comcast has been considering the possible effects on the media industry if either Netflix or Paramount Skydance acquires its competitor Warner Bros, as per a Reuters report.
- Comcast had made an offer for Warner Bros. last year but withdrew it in December.
- The Netflix-WBD deal has also been under scrutiny from lawmakers who fear the deal could hurt the competition and market dynamics in the streaming industry.
- Comcast spun off most of its cable-TV assets, including USA Network and CNBC.
Comcast-owned Sky's talks with ITV about buying its broadcast channels and streaming platform have reportedly slowed in recent weeks due to the battle to buy Warner Bros Discovery disrupting the industry.
In addition, Comcast has been considering the possible effects on the media industry if either Netflix or Paramount Skydance acquires its competitor Warner Bros, a report from Reuters News said, citing people familiar with the matter. Comcast had made an offer for Warner Bros. last year but withdrew it in December.
The potential ITV deal was made public earlier than planned, both sides expected that negotiations would take time, and they have not set out a timeline, the report said.
More Details
Discussions are still ongoing and there remains optimism that an agreement can be reached, according to the report. Back in November, ITV cautioned that there was no guarantee a deal would be finalized or what its terms might be.
Comcast announced its decision to spin off most of its cable-TV assets, including USA Network and CNBC, in late 2024. The spin off was completed in January earlier this year. This has also been a point of consideration for some of those involved in the talks, as per the report.
Netflix-WBD Deal
Netflix and Warner Bros. Discovery deal has become a saga after Paramount Skydance put forward a rival bid to woo WBD shareholders.
The deal has also been under scrutiny from lawmakers who fear the deal could hurt the competition and market dynamics in the streaming industry.
Recently, Paramount upgraded its offer to buy WBD and its valuation of the company is higher than what Netflix has valued WBD at. WBD is reviewing Paramount’s latest offer.
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