Netflix has reportedly submitted the highest bid so far in the race to acquire Warner Bros. Discovery, according to The Wrap. The streamer’s bid is said to be primarily in cash.
However, David Zaslav’s Warner Bros. Discovery has reportedly asked for a third round of bids due today that could affect things.
David Ellison’s Paramount Skydance submitted three different offers, all rejected, to acquire all of Warner Bros. Discovery before the studio went out to bidding in late November. That’s when both Netflix and Comcast joined the fray.
Nonetheless, David Ellison’s Paramount is determined – to the point that the outlet claims the company sent out two letters to WBD’s legal team this week – one warning a Netflix deal would likely not close due to regulatory issues, and one accusing the board of favouring Netflix during negotiations.
Netflix’s bid to acquire WBD has raised antitrust concerns – namely that Netflix, the biggest SVOD service, would acquire HBO Max, the fourth-largest streamer. Such a move would disrupt the streaming landscape.
Netflix would argue, not unfairly, that its prime competition isn’t the likes of Disney+, Amazon Prime or HBO Max but rather YouTube. The auction for Warner Bros. Discovery is expected to be finished by the end of the month.
