Mumbai: The European Union’s antitrust regulators are set to review rival bids by Netflix and Paramount Skydance for Warner Bros. Discovery simultaneously, creating an unusual head-to-head competition review, Bloomberg News reported.
The high-stakes takeover involves key entertainment assets, including DC Comics, iconic franchises such as Friends and Batman, and the HBO Max streaming service—an acquisition that could significantly reshape Hollywood’s competitive landscape.
The parallel scrutiny is reportedly due to the bids advancing on similar timelines, with both companies having held preliminary discussions with the EU’s merger watchdog. A simultaneous review could give Brussels leverage over Warner Bros.’ future, allowing regulators to clear one bidder more quickly while subjecting the other to further investigation or requiring concessions, potentially identifying a frontrunner.
Netflix revised its $82.7 billion offer to an all-cash bid of $27.75 per share, securing unanimous support from the Warner Bros. board. The move aims to accelerate deal closure and provide greater certainty for investors concerned about Netflix’s prior stock-and-cash proposal.
Any deal is expected to face rigorous antitrust scrutiny, including from regulators in the U.S., EU, and the UK.
