Netflix makes cash bid to acquire Warner Bros

Bloomberg reported that Netflix advanced to the second round of bidding, alongside Paramount–Skydance and Comcast, during negotiations held over the Thanksgiving holiday.

Warner Bros Discovery abandons planned split

The company behind HBO, CNN, and Warner Bros studios officially put itself up for sale in October after receiving multiple unsolicited bids, shelving earlier plans to divide the corporation into two separate businesses—one for streaming and studios, the other for traditional cable networks.

Paramount Ellison Bid sparked sale momentum

Warner Bros Discovery initially became a target of Paramount, recently acquired by the billionaire Ellison family.

David Ellison, Paramount’s CEO, had already made three bids for the company before CEO David Zaslav initiated the formal auction.

Netflix seeking billions in financing

Netflix, the world’s largest streaming platform with over 280 million subscribers, is reportedly securing a multi-tens-of-billions bridge loan to finance the acquisition.

If successful, the deal would dramatically expand Netflix’s content power, giving it control of HBO, CNN, and Warner Bros film and TV assets.

Potential antitrust roadblocks

Such a mega-merger would face intense scrutiny from US and international antitrust regulators due to the size, influence, and market share of the combined entities.

Hollywood voices concern over possible takeover

Several industry figures have publicly opposed the idea of Netflix acquiring Warner Bros.

Director James Cameron recently said on The Town podcast that such a deal would be “a disaster,” arguing Netflix often prioritises streaming releases over theatrical distribution.