Netflix has entered exclusive talks with Warner Bros. Discovery to acquire the company’s film and television studio, as well as the HBO Max streaming service, Variety confirms.
The development comes after a weeks-long bidding war for the assets at Warner Bros. Discovery between Netflix and rivals Paramount Skydance and Comcast. Paramount Skydance, under the newly minted studio CEO David Ellison, had sought to acquire the entirety of Warner Bros. Discovery in an all-cash deal, while both Netflix and Comcast only submitted bids for the company’s studio and streaming businesses. News of the exclusive window was first reported by Bloomberg News.
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