BUZZ-Paramount falls after report says Netflix in lead to acquire Warner Bros Discovery
Netflix, Inc. NFLX | 95.55 94.51 | -0.62% -1.09% Pre |
Comcast Corporation Class A CMCSA | 28.05 27.85 | -1.16% -0.71% Pre |
Paramount Skydance Corporation Class B PSKY | 9.25 9.11 | +2.55% -1.57% Pre |
Warner Bros. Discovery, Inc. Series A WBD | 27.49 27.49 | +0.11% 0.00% Pre |
** Shares of media major Paramount Skydance PSKY.O fall 2.4% to $14.32
** Netflix NFLX.O leads the bidding for Warner Bros Discovery WBD.O, says CNBC, with PSKY and Comcast CMSA.O also participating
** PSKY has questioned WBD on “fairness and adequacy” of the sale process, CNBC reports, citing letter from PSKY attorneys
** Letter highlights media reports that WBD’s management appears to favor Netflix’s offer, CNBC says
** NFLX and CMCSA submitted second-round bids this week to acquire some or all of WBD assets
** As of last close, PSKY up ~40% YTD
(Reporting by Arnav Mishra in Bengaluru)
((Arnav.Mishra@thomsonreuters.com;))