Is NBC buying Warner Bros? Inside takeover talks & Paramount’s rejected $60 billion offer

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This week, Warner Bros. Discovery’s future became more uncertain as Comcast, the owner of NBCUniversal, is considering a possible offer to buy some of its assets. If this happens, it could significantly change the structure of the movie and streaming industries.

This possible deal highlights a growing trend: media companies are joining forces to compete with the rise of digital and streaming platforms. We’ve already seen this with major mergers like Disney and Fox in 2019, and just recently, Skydance acquired Paramount for $8.4 billion.

Warner Bros., which was once called Time Warner and then WarnerMedia, was bought by AT&T in 2018 for $85 billion. This deal brought together AT&T’s distribution channels with content from popular networks like HBO, Warner Bros., and CNN.

The large merger in 2018 didn’t produce the expected benefits for AT&T, and the company faced increasing debt and disagreements over strategy, leading to the combination of WarnerMedia and Discovery in 2022. Now, after only a few years, the newly formed company is once again being discussed as a potential acquisition target.

Comcast considers Warner Bros. streaming and studio businesses 

Reuters reported on November 6th that Comcast, which owns NBCUniversal, is working with Goldman Sachs and Morgan Stanley to consider a potential bid for Warner Bros. Discovery’s TV and streaming assets.

NBCUniversal, owned by Comcast, is preparing a bid to acquire Warner Bros. They’ve enlisted Goldman Sachs and Morgan Stanley to assess the potential deal, which would focus on Warner Bros.’ studio and streaming services. NBCUniversal has been granted access to Warner Bros.’ financial information. (Source: Reuters)

— ScreenTime (@screentime) November 6, 2025

According to sources, Comcast has been given access to Warner Bros. Discovery’s financial information, suggesting they are seriously considering a purchase. It would likely make the most sense for them to buy only the streaming and studio businesses, as that would avoid competition with their existing cable services.

Reuters reported that representatives from Comcast, Warner Bros Discovery, Goldman Sachs, and Morgan Stanley all chose not to offer a statement about the matter.

If this deal is finalized, it would significantly impact the television and film industries. Warner Bros., a valuable asset of Discovery, might then be owned by the same company as Universal Pictures and Peacock.

This could result in DC films, such as the next Superman movie or The Batman 2, being distributed by Universal Pictures instead of Warner Bros. Their streaming availability might also change, moving from HBO Max to Peacock, or potentially a new combined streaming service.

Popular HBO shows like House of the Dragon, The Last of Us, and Euphoria might be available on the same streaming service as NBC hits such as The Office and Saturday Night Live.

Analysts may be hesitant because of the need for government approval. A deal this large would likely be carefully reviewed by the FCC, and disagreements between political parties could create problems.

Donald Trump and FCC Chairman Brendan Carr have both recently attacked Comcast and its CEO, Brian Roberts. Trump voiced his criticism publicly, while Carr suggested the company could lose its federal license, citing concerns about its diversity policies and a recent issue involving Jimmy Kimmel.

Donald Trump has often criticized NBC and its owner for what he considers unfair reporting. This could make it very difficult to get any necessary approvals from his administration if he were to be elected again.

Paramount Skydance’s $60 billion offer rejected

Before the news about Comcast, Warner Bros. Discovery (WBD) turned down several offers from Paramount and Skydance. The latest offer was for almost $60 billion – an $24 per share cash deal that would have given them complete ownership of WBD.

Warner Bros. Discovery will announce by Christmas whether it intends to put itself up for sale.

If Warner Bros. doesn’t choose to sell, Paramount has considered making a direct offer to shareholders to acquire the company, potentially leading to a hostile takeover.

(Source: CNBC)

— ScreenTime (@screentime) November 5, 2025

Warner Bros. Discovery (WBD) is considering several options, including selling the entire company, dividing it into two separate businesses, or selling off certain parts. However, Paramount Skydance reportedly believes its offer to buy WBD would be more beneficial for investors and has communicated this in multiple letters.

According to reports, negotiations could become difficult if Warner Bros. Discovery decides to explore other possibilities. However, this isn’t about any personal issues; Warner Bros. Discovery simply thinks it could be worth more if it were to break up the company instead of selling it as a whole.

Sources say Paramount’s offer didn’t accurately reflect the company’s worth and would have combined two major media companies both struggling to improve their streaming services while carrying significant debt.

Okay, so the biggest news I’ve heard – and I’m a huge TV and movie person – is that Netflix might actually try to buy parts of Warner Bros. Discovery’s streaming services and studios! It’s pretty wild to think about.

Reuters reported last month that Netflix is seriously considering buying a stake in WWE, and has hired a financial advisor and begun reviewing WWE’s financial details.

This deal is significant because the leading streaming service would get access to high-quality shows from HBO, and could also become the main streaming platform for DC Universe movies and series.

The future is uncertain right now, as major companies like Apple and Amazon are also considering buying pieces of the media company. We likely won’t have to wait long to see what happens.

According to sources who spoke with CNBC, Warner Bros. Discovery intends to make a public announcement about its plans around mid-December.

Why is Warner Bros. Discovery up for sale? 

Like many media companies, Warner Bros. Discovery (WBD) is currently facing financial difficulties. The company is still paying off debt from its 2022 merger and is also dealing with challenges like making its streaming services profitable, falling advertising income, and strong competition from companies like Netflix and Disney.

The company reported a net loss of $148 million for the third quarter, according to the Los Angeles Times. This result fell short of what analysts predicted, largely due to a 16% decrease in advertising revenue.

Despite recent challenges, Warner Bros. Discovery CEO David Zaslav remains positive about the company’s worth and future, stating in a call with analysts on November 6th that he is “very bullish” about its prospects.

Our films, like Superman, Weapons, and One Battle After Another, along with the wide availability of HBO Max and the variety of content we offer, demonstrate how we’ve successfully updated Warner Bros.’ classic storytelling for today’s entertainment world.

Warner Bros. Discovery faces a challenging situation. While its strongest properties, like HBO and DC Studios, are valuable, they need significant and ongoing investment to remain successful. Because of this, the company might be better off stabilizing itself by selling or reorganizing some of its divisions.

How the internet is reacting to WBD sale

People online are discussing the potential sale of Warner Bros. Discovery, and most seem to prefer Comcast as a buyer. There’s a lot of concern that Paramount or Disney wouldn’t handle Warner Bros. Discovery’s high-quality shows and movies very well.

Netflix is considering a purchase of Warner Bros. They’ve enlisted the investment bank that recently helped Skydance acquire Paramount. (Source: CNBC)

— ScreenTime (@screentime) October 31, 2025

Someone commented on Reddit about the possibility of Comcast buying Warner Bros., saying that while Warner Bros. is definitely going to be sold, the important question is who will buy it, and they expressed hope that it would be Comcast.

Look, I’m pretty sure Warner Bros. is going to be sold, plain and simple. It doesn’t even matter if it happens before or after they split the company. It’s clear to me, and a lot of others, that the people running Warner Bros. Discovery just don’t have the resources to really compete with the big players in streaming and entertainment right now.

The company is being prepared to be sold, and it likely won’t remain independent before the end of the 2020s.

Ultimately, Comcast seems like the best choice. It prevents Warner Bros. from being acquired by the Ellisons, strengthens Comcast’s position in the streaming market, and offers valuable intellectual property for its theme parks, increasing competition with Disney.

Someone commented that, of all the options, this is their top pick. They also mentioned that a partnership between Universal and Warner Bros. Discovery would create an incredibly powerful collection of films.

Someone else added that it could feature theme parks that would be just as impressive as Disney World, picturing DC characters alongside those at Universal Studios.

Although most people support Comcast’s bid, some are concerned about potential regulatory hurdles. One person commented that Comcast currently has the strongest offer, but another responded that securing final approval from regulators could be difficult due to political factors.

Someone commented that they enjoyed watching the news, but felt it was just a constant cycle of choosing the lesser of two evils.

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2025-11-07 16:22