WBD Bids Could Go Higher, Says Former CNN President Klein
Bloomberg Technology·2025-12-22 22:57

Mergers and Acquisitions Analysis - Warner Brothers Discovery (WB) has leverage due to multiple suitors, making it a seller's market [1][2][13] - David Zaslav is strategically delaying to potentially increase Paramount's offer [2][11] - Value of cable networks depends on the acquirer; Versant (spun off from Comcast) or local station giants like Nexstar and Sinclair might value them more than Netflix or Paramount [3][4] - Selling cable and broadcast components separately could yield more money for WB [5] - If Paramount Skydance acquires WB assets, they could still spin off cable and broadcast properties [6] - Realizing synergies from a potential acquisition could be a lengthy process [8] - Donald Trump is leveraging the situation to see who offers more favorable terms, similar to David Zaslav [10][11] - Investors believe there is time for Paramount's offer to increase, positioning WBD to benefit [12] Media Industry Trends - The rise of content creators on platforms like YouTube and TikTok is commanding more viewing time than traditional studios [16] - YouTube's acquisition of the Oscars broadcast rights from ABC starting in 2029 signifies a shift in media consumption [17] - Tech giants are poised to dominate the media landscape, potentially overshadowing traditional media companies [17][18]