The dispute over Warner Bros. studios. Discovery (WBD) and HBO Max entered a decisive phase, with Netflix presenting the highest bid to date. According to sources close to the process, cited by the news channel CNNthe platform offered around 28 dollars (approximately €24) per share, surpassing Paramount, whose new offer is around 27 dollars (approximately €23). According to Bloombergexclusive negotiations are at stake between Netflix and Warner.
The difference between the proposals is, however, substantial: while Netflix — like Comcast — focuses exclusively on studio and streaming assets, Paramount intends to acquire all of Warner, including cable channels (which include information giants such as CNN). This ambition has fueled tensions in the process, even leading Paramount to accuse Warner management, led by David Zaslav, of favoring Netflix.
“It has become increasingly clear (…) that WBD appears to have abandoned the appearance and reality of a fair transaction process, thereby abdicating its duties to shareholders, and initiated a shortsighted process with a predetermined outcome that favors a single bidder,” wrote CBS CEO David Ellison in a letter addressed to WBD CEO David Zaslav, released by Deadline.
The renewed interest in Warner Bros comes after years of a sharp drop in the company’s stock market value, which has been looking for strategic alternatives. Among them is a division plan in two listed entities, which David Zaslav guarantees will remain standing. If it moves forward, the reorganization will separate Warner Bros.’ assets from each other. — including HBO Max — from Discovery channels, such as CNN.
White House can influence business
The news in the last few hours, which reports on Netflix’s exclusive negotiations with Warner, reinforces the idea that the race could be approaching an end. But the deal, which would put Netflix in a position of near-absolute dominance in global streaming, may face political pressures and regulatory battles.
On the other side, Paramount’s offensive is underway, led by new CEO David Ellison – son from billionaire and Oracle founder Larry Ellison. THE known proximity between Ellison and the White House – Oracle will lead TikTok supervision in the USA under an agreement with the Trump Administration – is seen as an asset on North American soil. However, it may generate resistance in other jurisdictions, such as the European Union or the United Kingdom, where companies also operate.