{"id":2168283,"date":"2025-11-20T11:04:12","date_gmt":"2025-11-20T11:04:12","guid":{"rendered":"https:\/\/celebrity.land\/en\/?p=2168283"},"modified":"2025-11-20T11:04:12","modified_gmt":"2025-11-20T11:04:12","slug":"warner-bros-auction-poised-to-recast-hollywood-with-paramount-comcast-and-netflix-vying-for-the-prize","status":"publish","type":"post","link":"https:\/\/celebrity.land\/en\/warner-bros-auction-poised-to-recast-hollywood-with-paramount-comcast-and-netflix-vying-for-the-prize\/","title":{"rendered":"Warner Bros. auction poised to recast Hollywood with Paramount, Comcast and Netflix vying for the prize"},"content":{"rendered":"

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Now, the real jockeying begins for the future of Warner Bros. Discovery.<\/p>\n

Paramount, Comcast<\/a> and Netflix are each expected to submit proposals for all or parts of the storied media giant by Thursday\u2019s deadline, according to people familiar with the process but not authorized to speak publicly. The nonbinding bids mark the completion of the auction\u2019s first phase<\/a>, accelerating the potential sale of some of the best-known brands in entertainment, including HBO, celebrity.land and Warner Bros. film and television studio. <\/p>\n

Warner Bros. Discovery Chief Executive David Zaslav and the company\u2019s board have unanimously rejected three earlier<\/a> overtures from Paramount\u2019s David Ellison, including a largely cash $23.50 a share offer, deeming it too low. Thursday\u2019s entry of new bidders could boost the value of the struggling media company to more than $60 billion.<\/p>\n

Analysts say Paramount should have an edge because its bid is backed by David Ellison\u2019s father, Larry, who is among the top five billionaires in the world. But it\u2019s not a sure bet that Paramount will come away with the prize.<\/p>\n

\u201cI don\u2019t know that I\u2019m calling a horse,\u201d Julie Clark, senior vice president of media and entertainment at information firm TransUnion, said Wednesday. \u201cThey all have a lot to gain \u2014 and a lot to lose.\u201d<\/p>\n

Warner\u2019s board wants to pick a preferred partner by year\u2019s end, in part to determine whether they should continue working on their previously announced plan to carve the company into two parts. <\/p>\n

Should Paramount prevail in its bid<\/a> to buy the entire company, Warner Bros. Discovery would abandon its efforts to create a stand-alone streaming and studios entity called Warner Bros., and a second publicly traded firm, Discovery Global, comprised of celebrity.land, HGTV, TLC and other basic cable channels. <\/p>\n

But Comcast and Netflix are interested only in Warner\u2019s Burbank studios and HBO \u2014 not the company\u2019s other cable networks, people familiar with the process said. A Warner breakup then would go forward to facilitate those deals. <\/p>\n

Warner Bros., Paramount and Universal Pictures all date back a century to Hollywood\u2019s fledgling days. Warner\u2019s sale will transform the business no matter which company wins the bidding, and the resulting handoff could bring the consolidation of two historic film studios.<\/p>\n

A merger also would turbo-charge the shift to streaming.<\/p>\n

But the move would prompt layoffs in an industry already reeling from a production slowdown and the elimination of thousands of workers over the last two years, including at Warner, which has struggled to operate under a colossal debt burden brought on by its last merger \u2014 Discovery\u2019s $43-billion takeover of WarnerMedia from AT&T in 2022.<\/p>\n

\u201cThat was a failed acquisition,\u201d said Kenneth Leon, director of research at the financial firm CFRA. <\/p>\n

Antitrust regulators are expected to pore over any deal. <\/p>\n

However, President Trump has made his preference clear: He\u2019s rooting for Ellison, who dined at the White House on Tuesday night, along with other tech moguls, including Apple\u2019s Tim Cook and Tesla\u2019s Elon Musk, who toasted Crown Prince Mohammed bin Salman of Saudi Arabia.<\/p>\n

Ellison and his investor RedBird Capital Partners have already visited oil-rich Middle Eastern countries, holding preliminary talks with sovereign-wealth funds about potentially investing should Paramount win the Warner auction, according to two knowledgeable sources.<\/p>\n

NETFLIX<\/b><\/p>\n

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<\/picture>\n
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(Myung J. Chun \/ Los Angeles Times)<\/p>\n<\/p><\/div>\n<\/figure><\/div>\n

Netflix is the wild card.<\/p>\n

\u201cFor Netflix, this [acquisition] would be out of character,\u201d Leon said, adding that making a multi-billion purchase would represent \u201cthe total opposite of Netflix\u2019s success for over two, nearly three decades, which is to have organic growth with some tactical acquisitions \u2014 but very small ones.\u201d<\/p>\n

Still, Netflix has its eye on the Warner Bros. stable of successful franchises that include Superman and other DC Comics, \u201cThe Matrix,\u201d \u201cGame of Thrones,\u201d Harry Potter and \u201cThe Big Bang Theory.\u201d <\/p>\n

For its part, Netflix has generated a handful of blockbuster franchises, including \u201cSquid Game,<\/a>\u201d \u201cBridgerton\u201d and \u201cStranger Things,\u201d but the creators of the last series are decamping to Paramount. <\/p>\n

If Netflix wins the assets, including the HBO Max streaming service, it would become the industry\u2019s undisputed king. The company already boasts the most streaming subscribers \u2014 more than 300 million worldwide \u2014 and it would add another 73 million with HBO and HBO Max. <\/p>\n

\u201cNetflix has been making bigger moves,\u201d Clark said, noting its high-dollar investments in the NFL and other sports. \u201cThey have the cash and they have the distribution. Is this just Netflix solidifying themselves<\/a> in this space?\u201d<\/p>\n

Buying Warner Bros. would also give Netflix Co-Chief Executive Ted Sarandos<\/a> a prestigious movie studio lot \u2014 something Netflix currently lacks. Its Hollywood operations are crowded on a relatively small tract overlooking the 101 Freeway.<\/p>\n

But a Southern California congressman has waved a warning flag. <\/p>\n

\u201cNetflix currently wields unequaled market power<\/a>,\u201d Rep. Darrell Issa (R-Vista) wrote in a letter to Atty. Gen. Pam Bondi and Federal Trade Commission Chairman Andrew N. Ferguson earlier this week. <\/p>\n

\u201cAdding both HBO Max\u2019s subscribers and Warner Bros.\u2019 premier content rights would further enhance this position, reportedly pushing the combined entity above a 30 percent share of the streaming market,\u201d Issa wrote, noting that percentage would cross a problematic threshold \u201cunder antitrust law.\u201d<\/p>\n

COMCAST<\/b><\/p>\n

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\"Drone <\/picture>\n
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(Myung J. Chun \/ Los Angeles Times)<\/p>\n<\/p><\/div>\n<\/figure><\/div>\n

Comcast, which owns NBCUniversal, appears to be Zaslav\u2019s preferred bidder.<\/p>\n

The executive spent his formative years running NBC\u2019s cable distribution unit before jumping to Discovery in 2007 to become chief executive of the modest cable programming company then overseen by mogul John Malone.<\/p>\n

Comcast is in the process of spinning off its cable TV channels, including CNBC, USA Network, MS NOW (previously MSNBC<\/a>) and the Golf Channel. Comcast President Mike Cavanagh, who runs NBC, has made it clear the Philadelphia-based conglomerate has little appetite to take on Warner\u2019s basic cable networks.<\/p>\n

But company executives are keenly interested in Warner Bros., believing it would make a dream fit with NBCUniversal\u2019s entertainment operations, including its theme parks. <\/p>\n

Comcast has been investing heavily in live sports, including deals with the NBA and Major League Baseball, and its Universal Studios theme park business, including opening its Epic Universe near Orlando earlier this year. <\/p>\n

Comcast has the rights to Harry Potter, a major Warner Bros. franchise, for its parks. Buying the studio would give Comcast a treasure chest of other characters to build new attractions, including Superman, Batman, Wile E. Coyote and the fictional scientists from \u201cThe Big Bang Theory.\u201d <\/p>\n

\u201cImagine having a \u2018Game of Thrones\u2019 world at Universal,\u201d said Clark, the analyst.<\/p>\n

Warner\u2019s studio and HBO Max streaming operations would boost NBCUniversal\u2019s under-performing Peacock streaming service, which has struggled to produce scripted streaming hits.<\/p>\n

\u201cPeacock today is, at best, a second-tier player in the market,\u201d Leon said. \u201cEveryone would want the diamond in the rough, which is really the studios business … and HBO.\u201d<\/p>\n

Warner Bros. Television has long been the premier studio for cranking out hit shows and HBO remains an industry tastemaker with its award-winning fare. The companies\u2019 two studio complexes sit adjacent in Universal City and Burbank.<\/p>\n

But Comcast\u2019s proposal is expected to include a heavy stock component, and offer less cash than Paramount. That could cloud its prospects with the Warner board.<\/p>\n

Additionally, Trump has made his disdain for Comcast Chairman Brian Roberts widely known in derogatory Truth Social posts, which could make the regulatory process for Comcast particularly bumpy while Trump is president.<\/p>\n

PARAMOUNT<\/b><\/p>\n

\n
\"Paramount <\/picture>\n
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(Brian van der Brug \/ Los Angeles Times)<\/p>\n<\/p><\/div>\n<\/figure><\/div>\n

The Ellison family\u2019s Skydance and RedBird Capital Partners benefited from the warm relations that Larry Ellison, the co-founder of software company Oracle, has with Trump to get the Paramount deal over the finish line.<\/p>\n

Skydance and RedBird consolidated Paramount in August, one month before turning their attention to buying Warner Bros. Discovery to build a more formidable company. <\/p>\n

\u201cParamount lacks top-tier [intellectual property],\u201d TD Cowen media analyst Doug Creutz wrote in a recent report. \u201cTheir biggest franchise is Tom Cruise, who is 63 and does his own stunts.\u201d<\/p>\n

Larry Ellison has agreed to guarantee Paramount\u2019s bid for Warner Bros. <\/p>\n

His 42-year-old son, David, also has had discussions with Middle Eastern sovereign wealth funds to round up outside money should Paramount\u2019s bid prove successful, according to knowledgeable people. The Financial Times first reported on Ellison\u2019s conversations<\/a> with Saudi Arabia\u2019s Public Investment Fund. <\/p>\n

Paramount\u2019s previous offer for Warner Bros. Discovery included 80% cash and 20% stock in an effort to entice Warner board members. Paramount wants to avoid piling on the debt, which is what stymied Zaslav\u2019s efforts to build Warner into a streaming giant.<\/p>\n

Buying Warner Bros. Discovery would give Paramount more prolific movie production, robust franchises and a vibrant television studio, which over the years has produced some of the biggest hits for CBS, which is owned by Paramount.<\/p>\n

Paramount could also use Warner Bros. cartoon properties and HBO content, including \u201cGame of Thrones,\u201d to build its video game business. And it might move its operations from Paramount on Melrose Avenue to the larger Warner lot. <\/p>\n

Clark sees the Warner Bros. Discovery auction as a consequential inflection point for the industry. \u201cFast-forward a couple of years, and we will look back on this moment as the building of the new [Hollywood] and the new walled gardens around content.\u201d<\/p>\n<\/p><\/div>\n

\u2018 The preceding article may include information circulated by third parties \u2019 <\/em><\/p>\n

\u2018 Some details of this article were extracted from the following source www.latimes.com \u2019 <\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Now, the real jockeying begins for the future of Warner Bros. Discovery. Paramount, Comcast and Netflix are each expected to submit proposals for all or parts of the storied media giant by Thursday\u2019s deadline, according to people familiar with the process but not authorized to speak publicly. The nonbinding bids mark the completion of the […]<\/p>\n","protected":false},"author":2,"featured_media":2168284,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_jetpack_memberships_contains_paid_content":false,"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_social_meta":[],"footnotes":""},"categories":[25172],"tags":[],"class_list":["post-2168283","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-entertainment"],"jetpack_featured_media_url":"https:\/\/celebrity.land\/en\/wp-content\/uploads\/2025\/11\/Warner-Bros-auction-poised-to-recast-Hollywood-with-Paramount-Comcast.com2F3c2F312Fd67e7daa4b1a9e00607b8915.jpeg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/celebrity.land\/en\/wp-json\/wp\/v2\/posts\/2168283","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/celebrity.land\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/celebrity.land\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/celebrity.land\/en\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/celebrity.land\/en\/wp-json\/wp\/v2\/comments?post=2168283"}],"version-history":[{"count":1,"href":"https:\/\/celebrity.land\/en\/wp-json\/wp\/v2\/posts\/2168283\/revisions"}],"predecessor-version":[{"id":2168285,"href":"https:\/\/celebrity.land\/en\/wp-json\/wp\/v2\/posts\/2168283\/revisions\/2168285"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/celebrity.land\/en\/wp-json\/wp\/v2\/media\/2168284"}],"wp:attachment":[{"href":"https:\/\/celebrity.land\/en\/wp-json\/wp\/v2\/media?parent=2168283"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/celebrity.land\/en\/wp-json\/wp\/v2\/categories?post=2168283"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/celebrity.land\/en\/wp-json\/wp\/v2\/tags?post=2168283"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}