New York Post·2025-11-28 11:00Core Viewpoint - Comcast's CEO Brian Roberts is preparing to enter a second round of bidding for Warner Bros. Discovery (WBD), aiming to revitalize Comcast's business amidst increasing competition and challenges in the media landscape [1][12]. Group 1: Bidding Strategy - Roberts is considering a bid that could reach a valuation of $27 or $28 per share, focusing on WBD's studio and streaming businesses [2]. - The potential bid would represent a premium over Paramount Skydance's existing offer of approximately $25 per share, valuing the entire company at around $60 billion [5]. - Comcast's bid is expected to surpass Netflix's initial offer, which is also targeting WBD's studio and streaming assets [5]. Group 2: Competitive Landscape - The media industry is characterized by intense competition, with Comcast needing to secure WBD to avoid being outpaced by larger media and tech companies [9]. - Analysts suggest that losing the bid could leave Comcast isolated in the streaming market, particularly with its underperforming Peacock service [9]. Group 3: Regulatory Challenges - Roberts faces significant regulatory hurdles, particularly from the Trump administration, which may oppose any moves that strengthen Comcast [6][15]. - The WBD board may prefer a straightforward sale to Paramount Skydance, which could navigate regulatory scrutiny more easily [18]. Group 4: Financial Considerations - Comcast's financial position may require Roberts to seek external financing or equity partners to support his bid, given the company's existing debt levels [14]. - The valuation of Comcast's bid is complicated as it focuses solely on WBD's streaming and studio segments, making direct comparisons with other offers challenging [14].