Deadline has reported that Netflix will begin exclusive talks to finalize a deal for Warner Bros. Discovery, emerging victorious with what appears to be the highest and so far winning bid at $28 a share for the company’s studios and HBO Max streaming assets.
The fast-moving process is noted as one that will reshape the entertainment landscape dramatically.
WBD put itself on the block in October, opening up the process after multiple consecutive offers from Paramount for the company as a whole.
Paramount reportedly argued that it was the only one of three offers with a clear path to closing, believing that Netflix in particular would face major antitrust hurdles adding HBO Max to the fold.
Netflix is the current home of WWE Raw in the United States, and other content including premium live events internationally.
The potential sale raises questions about AEW’s future on the HBO Max platform, despite Tony Khan claiming at the Full Gear press conference that he is not concerned about WBD being sold to a company that already has TKO content.