According to multiple reports, the potential sale of Warner Bros Discovery has moved onto a second round of bids, with a new deadline of 1st December.
The company is believed to have asked all potential buyers to submit higher offers.
Paramount Skydance, Comcast and Netflix are all thought to have submitted bids in the first round, which closed last week.
The second round of bids could lead to WBD entering a period of exclusive negotiations with one of the companies, reports Bloomberg.
Of the three interested parties, it’s thought Paramount is the only company looking to acquire WBD as a whole. Comcast and Netflix are reportedly interested in the company’s studios and streaming business, which would either require its linear TV channels to become a separate entity or for WBD to find a new buyer for them.
WBD is expected to make a decision by Christmas.
