LOS ANGELES / LONDON (IT BOLTWISE) – Paramount is dissatisfied with the sale process of Warner Bros Discovery and warns of regulatory hurdles in a sale to Netflix or Comcast. The company emphasizes its own suitability as a buyer and threatens legal action if it is ignored.
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Paramount has taken a strong stance against the way Warner Bros Discovery (WBD) is handling its potential sale. The company has made it clear that it will not sit quietly if Netflix or Comcast are chosen as buyers. Paramount is pursuing an aggressive strategy to position itself as the most suitable buyer by highlighting regulatory concerns with competitors’ offerings.
In a letter to WBD, Paramount argues that both Netflix and Comcast have significant antitrust issues that would result in a lengthy and costly review. In particular, Paramount highlights that Netflix’s dominance in the streaming space and Comcast’s role as a leading broadband and MVPD provider raise unique and serious concerns that could jeopardize the completion of such a deal.
Paramount emphasizes that it is the easier and safer route because there are no market segments in which the combined market shares of Paramount and WBD would exceed the regulatory threshold of 30 percent. This would enable faster and more secure value creation for WBD shareholders. The company is poised to acquire all of Warner Bros’ global linear networks, while Netflix and Comcast are only interested in Warner Bros Studios and HBO Max streaming.
Paramount’s concerns also relate to the impact of a potential deal with Netflix on the film industry. Such a deal could reduce the number of films available for wide release, further straining already struggling theaters. Although Netflix has pledged to respect WBD’s theatrical commitments, Paramount believes those commitments are time-limited and defensive.
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