Warner Bros. Discovery gets mostly cash offer from Netflix in second round of bidding

Core Points - Warner Bros. Discovery is currently in a second round of bidding, with a significant cash offer from Netflix among the bidders [1][5] - The bids are binding, allowing the board to approve a deal quickly if terms are met, although they are not final [2] - Warner Bros. Discovery's board previously rejected a nearly $24 per share cash offer from Paramount, valuing the company at $60 billion, and is exploring strategic options [3] - The company is considering a split into studio-centric and cable-focused units to better manage its streaming and cable businesses [6] Bidding Details - Netflix, Paramount Skydance, and Comcast are the main bidders for Warner Bros. Discovery [1][7] - Warner Bros. Discovery requested improved offers by December 1 after receiving preliminary bids [3] Industry Context - A potential deal for Warner Bros. Discovery would further consolidate the media industry, following the $8.4 billion merger of Skydance Media and Paramount Global [6]