Digest: WBD Draws Bids from Paramount, Comcast & Netflix; Google Makes Final Plea in Ad Tech Monopoly Case; ChatGPT Rolls out Group Chats

"Paramount, Comcast, and Netflix have submitted bids to acquire all or part of Warner Bros. Discovery (WBD). Sources confirmed the first round of bidding has closed, with a second round expected for final proposals. WBD hopes to conclude the sale process by late December, though regulatory approval could take at least a year. Paramount is reportedly leading the race with a bid for the entire company, including its cable networks, while Netflix and Comcast are targeting WBD's studios and streaming assets."

"Meanwhile, Paramount has emerged as the preferred bidder for the bulk of UEFA Champions League broadcasting rights in the UK and Germany, signaling a bold expansion into European football. The deal, expected to run from 2027 to 2031 and worth hundreds of millions of pounds annually, would mark the US media group's first major foray into the region's sports market."

Paramount, Comcast and Netflix submitted bids to acquire all or part of Warner Bros. Discovery, with a first bidding round closed and a second expected for final proposals. WBD aims to complete the sale by late December, though regulatory approval could take at least a year. Paramount reportedly leads with a bid for the entire company while Netflix and Comcast target studios and streaming assets. Paramount has become preferred bidder for bulk UEFA Champions League rights in the UK and Germany for 2027–2031, worth hundreds of millions annually; Amazon Prime Video would retain first-pick matches. Google is contesting a DOJ effort to break up its ad-technology business. ChatGPT is rolling out group chats globally.

Read at Exchangewire