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Warner Bros. Discovery Faces Bidding War as Streaming Landscape Shifts
14 Nov
Summary
- Warner Bros. Discovery receives acquisition interest from multiple parties
- CEO Zaslav's contract amended to secure his leadership during strategic review
- Disney+ plans to tap into AI-based user-generated content and gaming
In November 2025, the media landscape is in flux as Warner Bros. Discovery navigates a strategic review process. The company has received acquisition interest from "multiple parties," including David Ellison's Paramount Skydance, as well as bids from Comcast and Netflix for its streaming and studio operations.
This potential bidding war has emerged after Warner Bros. Discovery announced plans last month to split into two separate entities: Warner Bros., comprising streaming and studios, and Discovery Global, which will focus on TV networks and Discovery+. The separation is expected to be completed by April 2026.
As part of the strategic review, Warner Bros. Discovery's board is considering a deal structure that would enable a merger of Warner Bros. with a third-party acquirer, alongside a spin-off of Discovery Global to shareholders. To ensure CEO David Zaslav's continued leadership during this process, the company has amended his employment agreement, extending the term through December 2030.
Meanwhile, Disney+ CEO Bob Iger sees a "huge opportunity" for the streaming service in gaming and AI-based user-generated content. Iger believes Disney+ can leverage these emerging technologies to enhance the platform's content offerings and user experience.
