Netflix appears to be in pole position to acquire Warner Bros. Discovery, which could have implications for the sports broadcasts available on HBO Max, but there is a serious contender on the horizon. Film studio Paramount, like Netflix, wants to take over its Hollywood rival Warner Bros.
Three days after it became known that Netflix wants to acquire the film and television company Warner Bros. Discovery – reportedly involving around 70 billion euros for the acquisition of the studios and HBO Max – Paramount has now also entered the fray. With a counteroffer, the film studio is trying to seize its direct competitor Warner Bros. This is reported by The Wall Street Journal.
The amount is 108 billion dollars (92.7 billion euros) for the entire company. So it’s not just about Discovery’s TV and film studios and the streaming platform HBO Max, but also the division with TV channels including news channel CNN and Discovery Channel. This is a substantially higher sum than Netflix is currently willing to pay for the acquisition.
Where Paramount aims to buy the entire company, Netflix wants to take over Warner Bros without its cable channels, such as CNN. Additionally, Netflix is offering 27.75 dollars per share, while Paramount offers 30 dollars per share. “Our bid is worth more, offers more certainty, and can also be completed faster,” says David Ellison, the key figure behind Paramount, to The Wall Street Journal.
HBO Max
For cycling fans with a subscription to HBO Max, this may also have consequences. HBO Max falls under Warner Bros. Discovery and thus also has a partnership with the TV channels of Eurosport, which is also part of Warner Bros. Discovery.
Besides series and movies, HBO Max also broadcasts a lot of live sports on its streaming platform, including exclusive coverage of the Giro d’Italia. Major cycling tours such as the Tour de France and Vuelta a España, as well as various classics, can also be seen there.
The final decision lies with the shareholders of Warner Bros. Discovery. They must decide which is the best offer, although the acquisition still requires approval from a U.S. regulator. Netflix expects it could take up to a year before an acquisition is finalized, should the streaming giant succeed in acquiring Warner Bros.
The film studio Paramount already owns TV channels such as MTV and Nickelodeon. It is also co-owner (with the American media company Comcast) of the streaming service SkyShowtime. With Gladiator, Shrek, Titanic and the Transformers, Mission: Impossible, and Star Trek film franchises, Paramount has produced many well-known movies.
