Just as I said back in 2023, Comcast is officially eyeing Warner Bros. Discovery. Speaking to Wall Street analysts on Thursday, Comcast co-CEO Mike Cavanagh confirmed the company is looking at studio and streaming acquisitions—and WBD fits the bill.
He said the upcoming Versant spin-off, which separates Comcast’s cable networks from NBC, Peacock, and Universal Studios, gives the company flexibility for a deal. Cavanagh suggested regulatory concerns are overblown, hinting Comcast is more open to acquisitions than people think.
Been told WBD is getting prepped for sale in a couple of years “hopefully” to Comcast pic.twitter.com/F5RsSohJfe
— Cosmic Book News (@cosmicbooknews) March 27, 2023
Studios and Streaming in Focus
Via THR, Cavanagh specifically named “studio assets and streaming assets” as areas of interest. That lines up perfectly with Zaslav’s plan to split WBD in 2026: one company for Warner Bros. and HBO Max (includes DC), another for Discovery Global (cable networks), which I also first reported.
This puts Comcast squarely in the race alongside Paramount Skydance, which just had its third bid rejected, and Netflix, which downplayed interest but hasn’t ruled out a post-split move.
Comcast owns Universal Pictures, Universal Studios, and more.
Zaslav Has Leverage
WBD stock has surged to over $20 per share, giving CEO David Zaslav the upper hand. He’s not selling cheap, and now that multiple parties are circling, including Comcast, the bidding war is just getting started.
