Warner Bros. bidding war
Digest more
HBO Max is staying put even though Netflix is buying Warner Bros. Discovery. During an internal global town hall with staff, those on the call were told that “HBO Max will stay,” TheWrap has learned. The meeting took place Friday morning to address Netflix’s acquisition of the company.
For now, the outcome remains highly uncertain. Any acquisition of Warner Bros. Discovery would likely be reviewed by the Trump administration, which could move to block a proposed merger over anti-monopoly concerns, according to antitrust experts from Vanderbilt University, the University of Tennessee and the Cardozo Law School.
The Standard General hedge fund co-founder Soo Kim has held talks over buying into Warner Bros. Discovery (WBD)’s TV networks, according to the Financial Times. Citing people briefed on the matter, the article reported that Kim had been approached by “at least one” WBD shareholder about acquiring some or all of the cable TV assets,
We haven’t prioritized theatrical in the past because that wasn’t our business at Netflix. When this deal closes, we will be in that business.”
Warner Bros. Discovery rejected the $30/share takeover bid from David Ellison's Paramount Skydance, with WBD unanimously backing the deal with Netflix.