Is Netflix about to own Hollywood? Streaming giant tables ‘mostly cash' bid for Warner Bros

In the new bid round to own Warner Bros, Netflix has submitted a “mostly cash” offer for the media giant.

As stated by Bloomberg, the bid was part of a critical second round of offers submitted Monday, December 1, potentially setting the stage for a deal within weeks.

Bankers for Netflix, Comcast, and Paramount Skydance worked through the Thanksgiving weekend crafting enhanced bids for or major parts of WBD.

The offers are described as binding, meaning the WBD board could move quickly to accept a deal that meets its goals.

It is reported that the substantial offer of Netflix is supported by a bridge loan worth tens of billions. This highlights streaming giant’s aggressive push to acquire Warner Bros.’ corvetted film and television studio along with the HBO Max.

The most interested buyers are reported to be Netflix and Comcast as WBD is preparing to split from its cable networks next year.

Paramount Skydance, meanwhile, is reported to have tabled an all-cash offer of its own, financed with assistance from Apollo Global Management and Middle Eastern sovereign wealth funds.

The intensified bidding signifies the immense value placed on Warner Bros.’ iconic IP library including franchises such as Harry Potter and DC Comics, and its premium HBO content as the streaming wars enter a consolidating phase.

Sources suggest that the auction could be concluded within days but suggest the process may extend a few more weeks.