🛒 Netflix Enters the Fight for WBD

The streaming giant has submitted a bid for the WBD film studios and the HBO Max streaming service, reportedly “primarily cash-based.” Netflix is said to be preparing a bridge loan worth tens of billions of dollars to support its offer.

Paramount and Comcast also submitted bids. Paramount’s proposal reportedly includes debt financing from Apollo Global Management Inc.

Paramount is the only company seeking to acquire WBD in full. Netflix and Comcast are targeting only the studio and streaming divisions, meaning the linear TV networks would need to be spun off into a separate entity or sold to a different buyer.

The submission of binding offers could trigger exclusive negotiations, potentially speeding up the deal.