Steaming service now in exclusive talks over deal that would change film and TV landscape
Warner Bros Discovery has entered exclusive talks to sell its streaming and Hollywood studio business to Netflix, a move that would dramatically change the established film and TV landscape.
Netflix is in competition with Paramount Skydance and Comcast, which owns assets including Universal Studios and Sky, to buy the owner of the Hollywood studio Warner Bros, HBO and the HBO Max streaming service.
Netflix is offering a $5bn (£3.7bn) breakup fee if the deal fails to gain regulatory approval in the US, according to Bloomberg, which first reported the exclusive talks.
Warner Brothers Discover shares are currently about $24, giving it a market value of about $60bn. Netflix has reportedly offered between $28 and $30 a share, suggesting its bid could be worth between $70bn and $75bn.
