WASHINGTON: Streaming giant Netflix has made a mostly cash offer to buy TV and film group Warner Bros Discovery as the storied yet debt-laden Hollywood studio presses on with a sale that could remake the US media landscape, a report said yesterday.
According to Bloomberg, Netflix joined Paramount Skydance and Comcast, the owner of NBCUniversal, in a second round of an auction that was being negotiated throughout the US Thanksgiving holiday.
The parent company of HBO, CNN and the Warner Bros film studio officially put itself up for sale in October after receiving multiple unsolicited offers, setting aside a planned split into two separate entities – one focused on streaming and studios, the other on traditional cable networks.