Comcast's Warner Bros. Bid Was 'Light' on Cash, Co-CEO Says -- WSJ

Dow Jones12-09 00:17

By Patience Haggin

Comcast's bid for the studio and streaming assets of Warner Bros. Discovery was "light [on cash] relative to the other proposals" from Netflix and Paramount, Comcast co-CEO Mike Cavanagh said at a UBS investor conference Monday.

Comcast, whose shares were off about 1% in Monday trading, was one of three media companies that bid for the assets. Netflix agreed on Friday to acquire Warner's studios and HBO Max streaming business for $72 billion, though on Monday morning Paramount launched a hostile all-cash offer for the full Warner Bros. Discovery company, including its cable networks.

Cavanagh said he was "not interested in stressing the Comcast balance sheet" to win the battle for Warner, and offered "a significant chunk of equity" in a combined entertainment company. The joint entity would have been a publicly traded, controlled subsidiary of Comcast, he said.

This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage).

(END) Dow Jones Newswires

December 08, 2025 11:17 ET (16:17 GMT)

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Netflix agreed on Friday to acquire Warner's studios and HBO Max streaming business for $72 billion, though on Monday morning Paramount launched a hostile all-cash offer for the full Warner Bros. Discovery company, including its cable networks. \n</p>\n<p>\n     Cavanagh said he was \"not interested in stressing the Comcast balance sheet\" to win the battle for Warner, and offered \"a significant chunk of equity\" in a combined entertainment company. The joint entity would have been a publicly traded, controlled subsidiary of Comcast, he said. \n</p>\n<p>\n       This item is part of a Wall Street Journal live coverage event. 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