Why Comcast lost the Warner Bros. bidding war to Netflix and Paramount, according to its president

Comcast wasn't a top contender in the Warner Bros. bidding war, company president Mike Cavanagh said. "We didn't expect that we had a high likelihood of prevailing with a deal that made sense to us," said Cavanagh, Comcast's soon-to-be co-CEO, at a media conference hosted by UBS on Monday morning.Cavanagh said Comcast's bid for Warner Bros. Discovery's streaming and studio assets was "light" on cash compared to bids by Netflix and Paramount Skydance, which wanted to buy the whole company, including its TV ...