Netflix, Paramount, Comcast battle with bids to buy Warner Bros. Discovery
Three streaming giants have reportedly submitted bids to purchase Warner Bros. Discovery.
Netflix, Paramount and Comcast have submitted offers to acquire the media giant, according to reports from The New York Times and Deadline, which both cited sources within the three companies.
Warner Bros. Discovery, Netflix, Paramount and Comcast did not immediately reply to ABC News' request for comment.
The reported bids come one month after Warner Bros. Discovery, which is valued at nearly $60 billion, announced in an Oct. 21 press release that it received "unsolicited interest" from "multiple parties for both the entire company and Warner Bros."
That followed an announcement in June that Warner Bros. Discovery -- the parent company of brands including CNN, HGTV, Food Network and HBO -- would separate into "two publicly traded companies," a streaming and studios company and a global networks company.
Streaming and studios would include Warner Bros. Television, Warner Bros. Motion Picture Group, DC Studios, HBO and HBO Max and more, while global networks would include the company's portfolio of entertainment, sports, and news television networks and brands, as well as its digital products, according to a June press release.
The separation is expected to be completed by mid-2026, according to the press release.
David Zaslav, president and CEO of Warner Bros. Discovery, said in October that outside interest in the company's separation came as "no surprise."
"It's no surprise that the significant value of our portfolio is receiving increased recognition by others in the market," Zaslav said. "After receiving interest from multiple parties, we have initiated a comprehensive review of strategic alternatives to identify the best path forward to unlock the full value of our assets."
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