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Did they? Didn’t they? Would they again? Netflix were the dark horse of the Warner Bros. Bidding process.
Everyne knew all about Comcast backed by the Saudis. Paramount Skydance was the favorite. Netflix didn’t even seem sure they were going to bid.
Yet bid they did.
Now, with the second round of bids for Warner Bros. Discovery hitting the lawyers mailbox yesterday, Bloomberg has confirmed that a ‘mostly cash offer’ from Netflix was among them.
“Show me the money!”
Imagne having access to that much cash? I would be buying another yacht from my private jet.
This is possibly why I am not ridiculously wealthy. Bad decision making.
Anyway, back to real business. Bloomberg also says that the auction process could be closed by the end of this week if the hurdle rate is hit.
The bankers have done their bit. Now it is in the hands of the shareholders and board of WBD to make a decision.
Offers are said to be binding, so if they get a “Yes” then this could move quickly. If it’s still not up to where the shareholders see the value, then another round could be opened for bids.
Netflix and Comcast only want the studio and streamer side – so most of old Warner Bros.
Paramount Skydance want the whole damn thing.
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