"Warner Bros Discovery has entered exclusive talks to sell its streaming and Hollywood studio business to Netflix, a move that would dramatically change the established film and TV landscape. Netflix is in competition with Paramount Skydance and Comcast, which owns assets including Universal Studios and Sky, to buy the owner of the Hollywood studio Warner Bros, HBO and the HBO Max streaming service."
"Warner Brothers Discover shares are currently about $24, giving it a market value of about $60bn. Netflix has reportedly offered between $28 and $30 a share, suggesting its bid could be worth between $70bn and $75bn. Analysts have warned that the deal could spark competition concerns as it would result in the combination of two of the biggest streaming services in the US."
"Netflix has given assurances that it will continue to allow the Warner Bros film studio, home to franchises such as Harry Potter and Batman, to continue to have wide cinematic releases. Prior to the closing of any deal, Warner Bros Discovery will complete a planned spin-off of its cable channels, which include CNN, TBS and TNT. A deal would result in Netflix becoming the owner of HBO, the maker of hit shows including Succession, The White Lotus, The Sopranos and Game of Thrones,"
Netflix has entered exclusive negotiations to buy Warner Bros. Discovery’s studio and streaming operations, facing competition from Paramount Skydance and Comcast. Warner Bros. Discovery’s shares trade around $24, valuing the company near $60bn, while Netflix’s reported offer of $28–$30 per share implies a $70–$75bn valuation. Netflix has proposed a $5bn breakup fee if U.S. regulatory approval fails. Analysts caution the combination of two major U.S. streaming services could raise competition concerns. Warner Bros. Discovery plans a pre-closing spin-off of cable channels including CNN, TBS and TNT. Netflix vows to preserve wide theatrical releases and would gain HBO and an extensive TV archive.
Read at www.theguardian.com
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