Published by Global Banking & Finance Review®
Posted on November 20, 2025
2 min readLast updated: January 20, 2026
Warner Bros Discovery has received bids from Paramount, Comcast, and Netflix, indicating a potential sale of its media assets, including HBO and CNN.
By Dawn Chmielewski and Dawn Kopecki
(Reuters) -Warner Bros Discovery has received preliminary bids for the media company from Paramount Skydance, Comcast and Netflix, according to a source familiar with the matter.
The bids represent the first step in the possible sale of all or part of the century-old Hollywood studio, whose entertainment brands include HBO, CNN and the Warner Bros film studio.
Warner Bros Discovery did not immediately respond to Reuters' request for comment. Comcast and Paramount Skydance declined to comment. Netflix could not be reached for comment. The New York Times first reported the development.
Paramount is expected to bid for all of Warner Bros Discovery, including its cable television networks. The company's bid is backed by the studio's controlling shareholder, billionaire Oracle co-founder Larry Ellison, who is among the world's richest men.
Reuters exclusively reported that Warner Bros Discovery's board rejected a mostly cash offer of nearly $24 a share for the company, according to a source familiar with the matter.
Netflix and NBCUniversal's corporate parent, Comcast, are interested in Warner Bros' film and television studios and HBO, but not Warner Bros' basic cable networks, which include CNN, HGTV and TNT.
Warner Bros Discovery previously announced plans to split the company into two publicly traded companies, separating its studios and streaming business from its fading cable networks.
(Reporting by Dawn Chmielewski in Los Angeles and Akash Sriram in Bengaluru; Editing by Leroy Leo)
A preliminary bid is an initial offer made by a potential buyer to purchase a company or asset, indicating their interest and the price they are willing to pay.
Corporate governance refers to the systems, principles, and processes by which companies are directed and controlled, ensuring accountability and transparency to stakeholders.
A controlling shareholder is an individual or entity that owns a sufficient percentage of a company's shares to influence or control its decisions and operations.
A cash offer is a proposal to purchase an asset or company where the buyer offers to pay the seller in cash, rather than through financing or stock.
A media company is an organization that produces, distributes, or provides content across various platforms, including television, film, radio, and digital media.
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