Netflix has submitted a $28-per-share bid for Warner Bros Discovery’s studios and streaming assets, marking one of the largest offers in recent entertainment industry history. The bid, filed last Thursday, comes amid a surge in media acquisition activity drawing attention across Hollywood and even the White House.
On the same day, Paramount submitted a competing bid at roughly $27 per share, aiming to acquire Warner Bros Discovery as a whole—including CNN and other cable networks—making a direct comparison between the two offers difficult. Netflix and other bidders are only focused on the studios and streaming assets.
The battle has placed the future of iconic brands such as HBO and DC Comics in the spotlight. While representatives from both companies declined to comment, sources indicate that Netflix currently appears to be the frontrunner.
Paramount has raised concerns, accusing Warner Bros Discovery of favoring Netflix in its sale process.
