Forbes·2025-12-05 06:20Core Viewpoint - Netflix is in exclusive negotiations to acquire Warner Bros. Discovery's film and TV studios along with the HBO Max streaming platform, having outbid competitors like Paramount and Comcast [1][2] Group 1: Acquisition Details - Netflix has made the strongest offer of $28 per share for Warner Bros. Discovery's studio and streaming businesses [1] - Paramount Skydance offered $27 per share for the entire Warner Bros. Discovery business, which includes cable channels like CNN and TNT [2] - Netflix is prepared to pay a $5 billion breakup fee if the deal does not receive regulatory approval [2] Group 2: Competitive Landscape - Paramount Skydance has raised concerns about the fairness of the sales process, claiming it favors Netflix [3] - Paramount's attorneys have accused Warner's board of conducting a biased process with a predetermined outcome [3] - There are doubts from Paramount regarding the regulatory approval of the Netflix deal, suggesting it may not close due to potential antitrust issues [3]