Xin Lang Cai Jing·2026-01-21 19:16Core Viewpoint - The EU antitrust regulators are expected to simultaneously review Netflix and Paramount's bids for Warner Bros, marking an unusual competitive examination that could reshape Hollywood's power dynamics [1][4]. Group 1: Acquisition Details - The acquisition battle involves major entertainment assets, including DC Comics, iconic franchises from "Friends" to "Batman," and the HBO Max streaming service [1][4]. - Netflix has revised its $82.7 billion acquisition offer to a full cash bid of $27.75 per share, which has received unanimous support from Warner Bros' board [2][5]. Group 2: Regulatory Implications - The likelihood of parallel reviews by the EU is high due to the similar timelines of the proposals and preliminary discussions between both bidders and the EU merger regulators [1][4]. - The parallel review could enhance the EU's influence over Warner Bros' future, allowing regulators to expedite approval for one bidder while subjecting the other to a longer investigation or requiring concessions [1][4]. - Any transaction may face extensive antitrust scrutiny from the U.S. Department of Justice, the EU, and the UK [3][6].