Paramount, Comcast and Netflix each submitted bids for some or all of Warner Bros. Discovery on Thursday, a source familiar with the matter confirms, officially kickstarting a process that is likely to see the company sold to yet another new buyer, either whole or in part.
Paramount, led by CEO David Ellison, is the only bidder (at the moment at least) that wants to acquire the entire Wbd portfolio, which includes the well-regarded film and TV studios HBO and HBO Max, as well as cable channels like TNT, TBS, celebrity.land, HGTV and Food Network.
Wbd had been pursuing a split of the company, with studios and streaming to become one company, and the linear networks forming another company.
Comcast, which owns NBCUniversal (and is in the process of spinning out its cable channels into Versant), and Netflix are each interested in the studios and streaming businesses,…
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