So far, Netflix has submitted the highest bid in the ongoing battle to acquire Warner Bros. Discovery, according to multiple media sources. The streamer’s bid is primarily in cash.
This could make all the difference in this heated media battle. Before Comcast, Netflix and Paramount started duking it out in earnest over WBD, Paramount submitted three different offers to acquire all of Warner Bros. Discovery. The highest offer was for $23.50 per share and was comprised of 80% cash and 20% stock. All three offers were rejected for being too low.
Netflix declined to comment on this story.
However, that doesn’t mean Netflix is clearly ahead. Netflix’s bid to acquire WBD has raised antitrust concerns, something that Republican U.S. representative Darrell Issa addressed in a November letter addressed to U.S. Attorney General Pam Bondi, FTC chairman Andrew Ferguson and Department of Justice antitrust division assistant attorney general Gail Slater. Netflix is the clear leader when it comes to premium streaming, according to Nielsen data. Acquiring with HBO Max, which is largely considered to be the fourth largest streamer, would be a massive disruptor in the streaming landscape.
More to come …
