Warner Brothers Discovery Takeover Update

about 1 month ago

Alexandra Seanova

"Some late breaking news. Yeah, just when we thought an eventful trading day was over, we have some really big news coming out from the media space. We have the Wall Street Journal reporting that Paramount, Comcast, Netflix are all preparing bids for a takeover of Warner Brothers Discovery. Uh just looking at the initial report right now, it says that this is according to people familiar with the discussions. The initial deadline to submit a non-binding first round of bids is November 20th. So that's really quite soon. And the report also says that Warner Discovery wants this completed by the end of the year. So really fastpaced on this. And also just taking a look right now at the share move on Warner Brothers. It looks like it's up in after hours trading."

The segment describes takeover bidding activity for Warner Brothers Discovery with a non-binding bid deadline of November 20th and an aim to complete the deal by year-end. Traders noted after-hours gains, indicating a market reaction to the potential deal.

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