New sports streaming - Venu (Fox/Disney/WarnerBros)

[Unchained]

All the ins and outs of the ongoing fight for WarnerBrosDiscovery. The billions of dollars being thrown around is just mind-boggling. For the cycling fan wanting a return to GCN+ days it seems is just going to get more expensive and/or parcelled up with other sports -
https://www.latimes.com/entertainme...vid-zaslav-warner-bros-deal-paramount-ellison

Just a note about heavy hitters like Apple, they don't look to have much of a sports profile and if they were to buy WBD that might stay the same or get worse about pursuing sports coverage.
It's strange to me that the NFL has figured out a way to sell product through multiple competitors with what looks like relative harmony. Sell to network TV, Amazon Prime, Netflix, and cable via ESPN and have boutique products through subscription services like NFL network.. I don't know what my price point would be for an all inclusive bike racing package, I certainly would pay for the convenience to see all majors and many other races. I would have to see a schedule and associated price. Right now for me the ala carte Chinese food menu style doesn't work.. You need Netflix, Apple and 2 other services to get what I like to watch, way too expensive already. I am not going to pay @$30-40+ USD per month more for better cycling coverage than what I currently have. I think this year I watched majority on Eurosport, YouTube and Facebook because people had streams of Del Toro races..
I personally feel like these companies are pricing themselves out of customers.. It's a common complaint when big corporations absorb all the minor players and things look like semi monopolies.. But if the price and products stabilize.. I am cool with that.. But to watch bike racing, NFL some movies, local news, HBO, Apple, Netflix is a couple hundred bucks a month, I am out.
If they spend billions they are going to want the money back asap..hence higher prices.

 

[Rob5091]

I wrote this could be a humdinger and now the ball is rolling!
https://nypost.com/2025/10/31/media...pport-for-paramount-skydances-takeover-offer/

This one in particular would go before the more free-market oriented DOJ antitrust division versus the Federal Communications Commission, which is run by conservative firebrand Brendan Carr who would be less inclined to throw a bone to, say Comcast CEO Brian Roberts.

As it turns out, Carr does not have an official vote in the sale of all or part of WBD because none of it involves the transfer of local broadcast licenses that the FCC regulates. In other words, the decision – at least on paper – would be up to DOJ antitrust chief Gail Slater, another Trump appointee, but also her staff, longtime DOJ staff attorneys who exercise considerable discretion on such matters as deal approval.

How about using a recently widowed woman to get a deal? (Now we're talking!)

... [Comcast CEO]Roberts could win over Trump by copying some of the things done by the Ellisons, including hiring a right-leaning ombudsman and journalist Bari Weiss, a critic of progressivism to oversee its left-leaning television network CBS. He’s called for Roberts to hire Erika Kirk, the widow of Charlie Kirk, who now runs his Turning Point USA conservative nonprofit as editor-in-chief of NBC.

Or how about using your competitior's advisors against them ... genius!
https://www.ndtvprofit.com/pursuits...iscoverys-data-room-for-potential-acquisition

The video streaming giant, Netflix Inc., is actively exploring a strategic acquisition of Warner Bros. Discovery’s core studio and streaming operations, according to an exclusive report by Reuters. Citing three sources familiar with the matter, Reuters revealed that Netflix has retained investment bank Moelis & Co. to advise on a prospective offer. Moelis & Co. is a notable choice, as it recently advised Skydance Media on its successful bid for Paramount Global, demonstrating experience in handling complex media mergers. Further, the report states that Netflix has been granted access to the crucial data room, which contains the detailed financial information necessary for formulating a formal bid.

 

[Rob5091]

Looks like we have to wait until December to get an update -

Yahoo Finance

Warner Bros. Discovery is aiming to provide an update on whether it will split or sell the company toward the middle or end of December, according to CNBC.

https://www.cnbc.com/2025/11/05/warner-bros-discovery-wbd-sale-split-plans-deadline.html

 

[Rob5091]

Somebody buy the company quick!

AOL Finance

Warner Bros. Discovery has been telling investors it wants to split the company in two — and just produced some evidence that such a deal is necessary.

The owner of CNN, HBO and the Warner Bros. studio said it swung to a loss of $148 million in the third quarter, as a box-office boost spurred by films like the latest “Superman” were offset by declines in its traditional TV business, which suffered from comparisons to the year-earlier quarter when the company enjoyed rights to broadcast the 2024 Paris Olympics in Europe. The company has been pushing to separate its studios and streaming operations from its TV networks, and has said it will consider a sale or other transaction.

https://www.latimes.com/entertainme...er-bros-sale-q3-results-paramount-sale-zaslav

The studio witnessed a major decline in advertising revenue in the third quarter, reporting $1.41 billion, down 16% from the previous year, which executives attributed to declines in the audience for its domestic linear channels, including CNN, TNT and TLC.

 

[Rob5091]

Comcast get the team together for the WBD attempted purchase. Lots of money to be made as advisers ... CEO Roberts though is going to have a tough time getting it through the Washington swamp. Time to donate bigly to a certain building project!
https://www.reuters.com/business/fi...explore-bid-warner-bros-discovery-2025-11-06/

Comcast has retained financial advisors and gained access to financial information as it explores a bid for Warner Bros Discovery’s (WBD.O)
, opens new tab studio and streaming businesses, according to four sources familiar with the matter.
NBCUniversal’s parent company has hired Goldman Sachs and Morgan Stanley to evaluate a prospective offer, two of the sources said. Comcast also has been granted access to the data room, which contains the financial information it would need to make a bid, according to two of the sources familiar with the matter.

 

[Rob5091]

You want a flutter on the outcome of the WBD sale? Here's a few odds and some interesting possibilities - Sony? Private equity? Apple? Combinations of prospective buyers?
https://www.hollywoodreporter.com/business/business-news/warner-bros-sale-odds-buyers-1236421920/

 

[Potomac]

Hmmm, if NBC gets the cycling package that HBO max has then it would be one stop shopping for bike races on Peackock
Excluding what Flo - bike carries. But I just pretend Flo-Bikes doesn't and VPN anything they get their very expensive mitts on.

 

[Rob5091]

Hmmm, if NBC gets the cycling package that HBO max has then it would be one stop shopping for bike races on Peackock
Excluding what Flo - bike carries. But I just pretend Flo-Bikes doesn't and VPN anything they get their very expensive mitts on.

Earlier this year a certain person with his own social media outlet posted numerous disparaging comments about Comcat's (NBC's parent company) boss Roberts. It will take seemingly some extra donations to a ceratin library or ballroom for Comcast to get WBD.

 

[Rob5091]

Wow! This is now getting into unexpected places .... Saudi Arabia's soverign fund is, according to rumours, a player!
https://www.jeuxactu.com/warner-bro...l-arabie-saoudite-pour-70-milliard-131347.htm

A rumor has been circulating since the end of last week: the Saudi sovereign wealth fund P.I.F. is considering a full takeover offer for Warner Bros. Discovery (WBD). ....According to inside sources, the rumor has caused some panic among the teams at HBO and Warner Bros. TV. Several executives have reportedly been contacted by journalists for comment, without anyone being able to confirm the veracity of the information. One producer interviewed simply said, "If true, it would be the biggest coup in modern Hollywood history."

Of course, a merger/sale of this magnitude has got politcal interest - https://onda.la/news/california-sla...ntial-sale-hollywood-shake-up-ahead-09112025/

As the curtain rises on a potential sale of Warner Bros. Discovery, California's Justice Department is decidedly not impressed. With the company putting itself on the market, the state’s Attorney General, Robert Bonta, and his team have expressed significant worries about what this could mean for the entertainment industry. It's a real Hollywood drama playing out off-screen, raising concerns about industry consolidation and its impact on the economy.

 

[Rob5091]

Seems like the Saudi involvement is legit -
https://www.smartkarma.com/home/mar...19-amid-3-73-drop-market-trends-and-analysis/

Comcast CEO Brian Roberts recently traveled to Saudi Arabia as part of exploring a potential bid for Warner Bros Discovery, while Paramount’s David Ellison has downplayed the necessity for Paramount to acquire the company.

 

[Rob5091]

Nothing like skimming off some big bucks and getting your face in the press when a big financial deal is going down - Rep. Issa puts the boot in on Netflix ...
https://www.foxnews.com/media/darre...bros-discovery-deal-citing-antitrust-concerns

[Californian Rep] Issa sent a letter Thursday to Attorney General Pam Bondi, Federal Trade Commission Chair Andrew Ferguson and Justice Department Antitrust Division Chief Gail Slater, detailing concerns with the potential deal involving Netflix.

November the 20th is when the flag is dropped - the auction begins! Could be all over by Christmas, though I'm guessing that's being hopeful.
Yahoo Finance

Preliminary bids for Warner Bros Discovery are due November 20, when suitors must submit first-round, non-binding offers, Deadline hears. ... Parties interested in WBD previously signed non-disclosure agreements and accessed a data room to dig through the company’s financials and prepare preliminary bids. A second round of binding offers will follow. If there is to be a sale, Warners is hoping to have settled on a buyer by Christmas.

Edit -add - my guess is that if Comcast have big Saudi backing, they will go in with a big offer to see what the other bidders will do. Comcast's big problem is DC, but then again large donations to PACS, libraries, ballrooms etc often smooth the way. Netflix seems to be DC's first target and if Comcast does not come up with some "incentives" then they'll be probably next.

For those who like a visual reminder of the players -

 

[Rob5091]

$600 billion investment pledge might sweeten the way for Comcast after MBS's visit to DC -
https://www.reuters.com/world/us/sa...us-with-defence-ai-nuclear-agenda-2025-11-17/

 

[Rob5091]

Netflix getting bashed carries on -
https://dailycaller.com/2025/11/18/roger-marshall-netflix-warner-bros-merger/

Republican Kansas Sen. Roger Marshall sent a Monday letter to the Department of Justice (DOJ) and the Federal Trade Commission (FTC) sounding the alarm on what he called “significant” concerns over Netflix reportedly weighing a bid to purchase Warner Bros. Discovery. “If Netflix reached a deal to acquire Warner Bros., it would raise significant antitrust questions that warrant especially rigorous review,” Marshall wrote in the letter.

WBD have rejected a $23.50 offer per share so that's a starting figure - the latest on the 3 bidders
https://variety.com/2025/biz/news/warner-bros-discovery-bids-paramount-netflix-comcast-1236584564/

 

[Rob5091]

Looks like Comcast lost out to Paramount for Middle Eastern money -
https://money.usnews.com/investing/...e-arab-sovereign-wealth-funds-variety-reports

Paramount Skydance has formed an investment consortium with the sovereign wealth funds of Saudi Arabia, Qatar and Abu Dhabi to submit a total $71 billion bid for Warner Bros Discovery, Variety reported on Tuesday, citing sources familiar with the matter.
The bid is being largely backed by the Ellison family with involvement from Saudi Arabia's Public Investment Fund, the Qatar Investment Authority and the Abu Dhabi Investment Authority, the report said.

 

[Rob5091]

Paramount say they're not using Gulf money but there's a lot of posturing going on.
https://www.reuters.com/business/me...ery-bid-with-three-arab-sovereign-2025-11-18/

At $30 per share, Warner Bros Discovery would be valued at $74.34 billion. That's up from Paramount's current offer of $58.23 billion.

Earlier in the day, Paramount said Variety's report on the company forming an investment consortium with the sovereign wealth funds of Saudi Arabia, Qatar and Abu Dhabi to submit a total $71 billion bid for Warner Bros Discovery (WBD.O) was "categorically inaccurate."
Separately, the Financial Times also reported on Tuesday, citing people briefed on the matter, that Paramount CEO David Ellison has held preliminary talks with Saudi Arabia's Public Investment Fund and other Gulf investors about backing a potential bid for Warner Bros Discovery.

 

[Rob5091]

Thursday's the big day for round one with Saudi money going somewhere ...
Yahoo Finance

Saudi Crown Prince Mohammed bin Salman pledged investments of $1 trillion in the U.S. economy at a White House visit Tuesday ahead of a formal dinner that will see Paramount CEO David Ellison in attendance.

 

[Rob5091]

We're at km 0 and the flag is being waved -
https://www.latimes.com/entertainme...ompany-paramount-comcast-netflix-what-to-know

Now, the real jockeying begins for the future of Warner Bros. Discovery.

Paramount, Comcast and Netflix are each expected to submit proposals for all or parts of the storied media giant by Thursday’s deadline, according to people familiar with the process but not authorized to speak publicly. The nonbinding bids mark the completion of the auction’s first phase, accelerating the potential sale of some of the best-known brands in entertainment, including HBO, CNN and Warner Bros. film and television studio.

Interesting that WBD boss Zaslav prefers Comcast -

Comcast, which owns NBCUniversal, appears to be Zaslav’s preferred bidder.

The executive spent his formative years running NBC’s cable distribution unit before jumping to Discovery in 2007 to become chief executive of the modest cable programming company then overseen by mogul John Malone.

 

[Unchained]

So one group could care less about any merger, buying outcome. They made millions off stock price increase while we banter about it.

 

[Rob5091]

Sounds like Paramount wont have it all their own way if they win the auction -
https://thehill.com/homenews/media/5613589-senators-doj-warnerbros-discovery/
https://thehill.com/homenews/media/5616921-elizabeth-warren-paramount-competition/

Sen. Elizabeth Warren (D-Mass.) is warning the head of media conglomerate Paramount that she is ready to stand in the way of the company’s growth, which she argues is becoming increasingly anti-competitive.

“We don’t think one man or one corporation named David Ellison should be able to buy up all the shows and buy up all the sports and buy up all the news and decide who watches what and who says what,” Warren told late night host Stephen Colbert this week.

“And I’m going to stay in that fight. So, we’re there,” she added.

The senator’s comments come just days after she and other lawmakers sent a letter to Ellison, the CEO of Paramount and the son tech mogul Larry Ellison, expressing concern about the company’s reported interest in buying WarnerBros. Discovery.

 

[Unchained]

Sounds like Paramount wont have it all their own way if they win the auction -
https://thehill.com/homenews/media/5613589-senators-doj-warnerbros-discovery/
https://thehill.com/homenews/media/5616921-elizabeth-warren-paramount-competition/

Stock is up a couple of percent 2 days in a row

 

[Rob5091]

On top of the purchase price for WBD is the $21 billion debt still on the books.
https://www.movieguide.org/news-art...-tackle-its-debt-after-warner-bros-split.html

When Warner Bros. and Discovery merged in 2022, the result was $40 billion in debt, $19 billion of which the company has already paid off.

Whoever gets WBD, I believe will chop and sell off bits, and keep any profitable parts. In the end they might get away with winning the auction and not getting a pyrrhic victory.

 

[Rob5091]

Stage 2 of the "WBD Tour" is up for final bids on December 1. Sounds like WBD did not like the first round low bids ...
https://www.msn.com/en-us/money/oth...-round-acquisition-bids-due-dec-1/ar-AA1R9ilk

Some media M&A teams may be working through the Thanksgiving weekend: Warner Bros. Discovery — which is fielding acquisition overtures from Paramount Skydance, Comcast and Netflix — is asking for second-round bids by Monday, Dec. 1, that are higher than the original proposals, Variety has confirmed.