Comcast recently hired two banking firms — Goldman Sachs and Morgan Stanley — as it explores making a bid for Warner Bros. Discovery’s studio and streaming businesses, write Dawn Chmielewsky, Amy-Jo Crowley, Dawn Kopecki, and Milana Vinn for Reuters.
The two firms will be responsible for helping Comcast evaluate a prospective offer.
According to two sources familiar with the situation, Comcast has also been given access to the data room containing the financial information it would need in order to make a competitive bid.
This proposition ties into Comcast President Mike Cavanagh’s previous comments to investors that the company is evaluating media assets that “would be complementary to our existing business.”
Last month, Warner Bros. announced that it was exploring strategic alternatives after multiple parties expressed interest in buying all or a portion of the company.
Warner Bros. CEO David Zasvlav said the company would ideally have some clarity about a potential sale by the year’s end.
Warner Bros. had been in the process of being split into two standalone company next year, separating studios and streaming from linear television into Warner Bros. and Discovery Global, respectively.
According to Deadline, Comcast is also in talks to acquire ITV’s broadcasting business in a separate deal.
Read more about Warner Bros. Discovery’s potential sale and Comcast’s interest at Reuters.
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