Warner Bros. Discovery (WBD.US) Requests Revised Acquisition Bids from Potential Buyers

Stock News11-26

Warner Bros. Discovery (WBD.US) is calling on potential buyers to submit improved acquisition offers after receiving initial bids. According to sources familiar with the matter, the entertainment giant has set a deadline of December 1 for revised proposals. Following a review of these offers, Warner Bros. Discovery may enter exclusive negotiations with one of the bidders.

Last week, Paramount Skydance (PSKY.US), Netflix (NFLX.US), and Comcast (CMCSA.US) submitted bids targeting either partial or full acquisition of Warner Bros. Discovery's assets. Comcast and Netflix expressed interest in the company's film and TV studios, including HBO, while Paramount Skydance sought to acquire the entire business.

Warner Bros. Discovery announced last month that it was conducting a strategic review of its assets due to growing acquisition interest, ranging from full-company takeovers to bids focused solely on its studios and streaming operations. Earlier this month, reports indicated that the company had set a pre-Christmas deadline to finalize decisions regarding potential divestitures or sales.

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