Warner Bros, meanwhile, would receive both cash and stock in the new entity, Bloomberg said.
- Comcast is looking to merge its NBC TV network, film and TV studios as well as its theme parks with Warner Bros, creating a single, larger entity.
- Warner Bros. CEO David Zaslav is expected to be part of the management at the new combined entity, the report said.
- Comcast is one of the three players to submit a renewed offer this week for whole or parts of Warner Bros., including Paramount Skydance and Netflix.
Comcast Corp (CMCSA) is reportedly looking to merge its NBCUniversal division with Warner Bros. Discovery Inc. under its renewed offer for the latter.
According to a report from Bloomberg, citing people familiar with the matter, Comcast made a fresh offer for parts of Warner Bros on Monday. If accepted, this would give Comcast control over the combined entity, the report noted.
Warner Bros, meanwhile, would receive both cash and stock in the new entity, Bloomberg said. Comcast is looking to merge its NBC TV network, film and TV studios as well as its theme parks with Warner Bros, creating a single, larger entity. Warner Bros. CEO David Zaslav is expected to be part of the management at the new combined entity, the report said.
Bidding Competition
Comcast is one of the three players to submit a renewed offer this week for whole or parts of Warner Bros., including Paramount Skydance and Netflix. Earlier this week, it was reported that Netflix made a mostly cash offer for parts of Warner Bros., not including its cable TV network
According to Bloomberg, Comcast would continue with its plans to spin off the cable-TV network as Versant in a transaction early next year. Warner Bros also has plans to separate its cable channels into a separate business if it opts for a bid that does not include its cable tv business.
The company’s board would make a decision on the revised offers in the coming days, Bloomberg said.
Warner Bros put itself for sale in October after multiple unsolicited offers to buy the company. The company since then received initial bids from Paramount Skydance, Comcast, and Netflix and it subsequently asked the interested buyers to submit higher offers by December 1.
How Did Stocktwits Users React?
WBD stock rose 3% at the time of writing. On Stocktwits, retail sentiment around WBD stayed within the ‘bearish’ territory over the past 24 hours while message volume rose from ‘low’ to ‘normal’ levels.
According to a Stocktwits user, the fierce bidding will allow for a price of about $30 per share.
Another opined that the deal would be great for Comcast, allowing it to beat competition against Netflix and Disney in the streaming segment.
WBD stock has more than doubled this year.
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