Warner Bros. Discovery has reportedly requested second-round bids from Paramount Skydance, Comcast, and Netflix by December 1, and despite a denial, there’s reason to believe the Saudis might still enter the mix.
Paramount Skydance Denies Teaming With Saudis — But That Doesn’t Close the Door
Last week, Variety claimed Paramount Skydance had partnered with Saudi Arabia, Qatar, and Abu Dhabi’s sovereign wealth funds to submit a $71 billion offer for all of Warner Bros. Discovery.
Paramount quickly shut down the report, but that hasn’t stopped speculation. Multiple outlets — including us — previously reported the Ellisons could bring in Middle Eastern money during negotiations, not necessarily before the initial bid.
With WBD now demanding improved bids by Dec. 1, it’s possible the Ellisons could still link up with sovereign funds to boost their offer, especially if Comcast — previously tied to the Saudis — matches or surpasses their price.
The wild card in all this is President Trump who reportedly wants Paramount to buy WBD. If Comcast or Netflix buy WBD, reports say they’d face years of regulatory scrutiny before a deal could close. Trump is also friends with the Saudis and recently announced a trillion dollar partnership.
WBD Wants a Better Deal, May Pick a Buyer Soon
Per Variety, Warner Bros. Discovery is hoping for higher second-round bids after receiving non-binding offers last week. If they get a number they like, the company may enter exclusive negotiations with one of the buyers as early as next month.
WBD CEO David Zaslav is said to be holding out for an offer valued at $70 billion or more, and it’s not clear if anyone has hit that target yet.
The current structure of interest includes:
- Netflix: Only wants WBD’s studio and streaming assets, not the full company.
- Comcast: Also interested in parts, and was previously reported to be seeking Saudi financial backing.
- Paramount Skydance: Wants to buy the entire company — and is the only one reportedly interested in CNN.
It’s also said Warner Bros. Discovery may still walk away from the bids and move forward with its original plan to split into two separate companies: Warner Bros., led by David Zaslav, and Discovery Global, overseen by current CFO Gunnar Wiedenfels.
