The deadline for bids for the acquisition of Warner Bros. Discovery came and went last Thursday with surprisingly little fanfare on the day in question.
Paramount Skydance, Netflix and Comcast all reportedly submitted bids before the date, but whatever they submitted it doesn’t appear to have pleased Warners.
A new report at Bloomberg News indicates a second round of bidding is in the works, with those bids due in by this coming Monday December 1st, and those bids must be higher than the original proposals
The report indicates that following the submission of the new round of bids, the studio “may enter a period of exclusive negotiations with one of the companies.”
All this follows on from Warner Bros. Discovery earlier this year announcing it had received inbound merger & acquisition interest from ‘multiple parties’.
Netflix and Comcast have been eyeing a deal to acquire the Warner Bros. streaming and studio operations half of Warner Bros. Discovery once that splits off from its cable TV business before April next year.
Meanwhile, Paramount Skydance is interested in acquiring Warner Bros. Discovery in its entirety. Details on the offer terms and prices of the various Warner Bros. Discovery bidder haven’t been disclosed.
Source: Variety
