According to The Hollywood Reporter, Paramount, Comcast and Netflix have each submitted bids for some or all of Warner Bros. Discovery on Thursday, per a source that is familiar with the matter. It was added that the bids were non-binding and due by noon on Thursday.
The Hollywood Reporter also notes that at the time of their report, Paramount is the only bidder that wants to acquire the entire portfolio of WBD,, which includes the film studio, HBO, HBO Max, TNT, TBS, CNN, HGTV and the Food Network.
Warner Bros. Discovery has been looking into splitting up the company, with the studios and HBO Max to be separate from the linear cable networks, which would be a company all on it’s own.
Comcast, which owns NBCUniversal is also in the process of separating out all of its cable channels into a new standalone entity called Versant and Netflix are each interested in the studios and the steaming side of WBD. If was added that if WBD were to be on board with either of them, they would need to either make the linear channels into a separate entity or find a buy for them.
Furthermore, the report poses the question on if Saudi Arabia or any other Middle Eastern Fund is providing financial backdrops for any of the bids, as both Paramount and Comcast have reportedly been connected to potential Middle Eastern partners as they have pursued the deal. It is also not known at this time if there are other entities that have also submitted bids to acquire some or all of WBD.