Warner Bros. Discovery is seeking a higher offer from potential suitors after first-round bids didn’t meet its expectations.
According to Bloomberg, the media giant has set a December 1 deadline for second-round bids from Netflix, Comcast, and Paramount Skydance.
The trio handed in preliminary first-round, non-binding offers for WBD on Thursday, November 20, as they sought to acquire parts or all of the storied entertainment giant.
The company reportedly does not want to drag out the for-sale process and aims to reach a conclusion by Christmas. Should a better offer emerge from this round of bids, WBD could enter a period of exclusive negotiations with one of the companies.
All this is happening as WBD continues to move forward with its planned company split, expected in mid-2026. This move would separate its streaming and studios from its cable division.
During WBD’s third-quarter earnings call earlier this month, CEO David Zaslav acknowledged that the company is undergoing a review of its sales process, saying, “You’ve all seen media reports as to potential interested parties, and I won’t comment on anything specific, but it’s fair to say that we have an active process underway.”
