As per media reports today, Netflix has emerged victorious in a heated bidding war for Warner Bros. Discovery (WBD), submitting the highest offer and entering exclusive negotiations to acquire key assets. Netflix's bid targets WBD's Warner Bros. Studios, HBO Max streaming service, and related film/TV libraries (including DC Comics, Harry Potter, Game of Thrones, and Hanna-Barbera IP). Excluded are WBD's Global Networks (e.g., CNN, TNT Sports, Discovery channels), Discovery+ streaming, and Bleacher Report.
"Netflix has won the bidding war to purchase Warner Bros. Discovery. They are now entering exclusive deal talks, with Netflix offering $30 a share and a $5 billion break-up fee. The sale is not yet finalized, as the U.S. Department of Justice could also interfere due to anti-trust concerns," Discussion Film reported.
The development is not the liking of a group of major Hollywood players, who have sent an urgent open letter to the US Congress, warning of an economic and institutional meltdown in Hollywood if Netflix succeeds in acquiring Warner. There is a theory, however, that these producers opposing the takeover are being backed by Paramount. "Why would there be a need to have federal protections for movie theatres? If Netflix thinks they don't need movie theatres, then maybe it's time for a change. There's no right for theatres to get exclusive movie releases!" Kayle Clark wrote.
