Suitors submit bids for Warner Bros. Discovery
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Father-and-son tech billionaires flash cash to overcome rivals Netflix and Comcast as they pursue a Hollywood empire
As Paramount, Comcast and Netflix prepare bids for Warner Bros. Discovery ahead of a Thursday deadline, speculation is growing about the role of Middle East wealth in the game-changing transaction. Saudi Crown Prince Mohammed bin Salman pledged investments of $1 trillion in the U.
Netflix, Paramount and Comcast submitted bids to acquire the Hollywood colossus, which owns the Warner Bros. movie studio, HBO, and cable networks like CNN and TNT, four people with knowledge of the proposals said. The outcome of the sale could alter the trajectory of the entertainment business.
The submissions meet a Nov. 20 deadline for a first round of bids set by the board of Warner Bros. Discovery, the parent of HBO, CNN and the Warner Bros. movie and TV studios