Netflix offers cash to acquire Warner Bros. Discovery

The streaming giant Netflix has made a predominantly cash offer to acquire the television and film group Warner Bros. Discovery, while the legendary Hollywood studio, burdened with debt, continues with a sale that could reshape the U.S. media landscape, according to Afp.

According to Bloomberg, Netflix has joined Paramount Skydance and Comcast, the owner of NBC Universal, in the second round of an auction held during the Thanksgiving holidays in the U.S., CE Report quotes ANSA.

The parent company of HBO, CNN, and Warner Bros. film studio officially put itself up for sale in October after receiving several unsolicited offers, abandoning a planned split into two separate entities: one focused on streaming and studios, and the other on traditional cable networks. Warner Bros. Discovery was initially targeted by Paramount, recently acquired by the billionaire technology family of Oracle founder Larry Ellison, one of the richest men in the world.

Netflix, the world's largest streaming service with over 280 million subscribers globally, is working on a bridge loan for tens of billions of dollars to finance its potential acquisition, according to sources cited by Bloomberg. The deal would strengthen Netflix's already considerable content production capabilities and secure premium assets such as HBO and Warner Bros. studios.

Additionally, it would likely face a careful review by antitrust authorities in the U.S. and potentially in other key markets.