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Netflix announced today it has outbid other suitors for Warner Brothers Discover streaming service (HBO Max) and library, although regulatory hurdles remain. The $72 billion deal would not include TBS and TNT, the home of AEW programming, but it would include HBO Max, which simulcasts AEW Dynamite and AEW Collision and offers the shows on demand. HBO Max is also one of many PPV distribution options for fans.
The Trump Administration has expressed “heavy skepticism” about whether the deal should go through. Sen. Elizabeth Warren (D-Mass) said, “This deal looks like an anti-monopoly nightmare.”
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Paramount Skydance and Comcast were also bidding for WBD. Paramount sent a letter to WBD officials warning them that they were accepting an offer from Netflix that likely would not made it past regulatory challenges.
The Wrap writes:
Obtaining such assets could dramatically reshape the entertainment landscape and give Netflix even more power over Hollywood — concerns the streamer will have to assuage.
In its press release, Netflix listed five bullet points with its case for why the deal would represented “more choice, more opportunities, and more value.” Among them:
- By uniting Netflix’s member experience and global reach with Warner Bros.’ renowned franchises and extensive library, the Company will create greater value for talent—offering more opportunities to work with beloved intellectual property, tell new stories and connect with a wider audience than ever before.
Netflix is the home of WWE Raw in the United States and all WWE TV shows and PLE events in much of the world. This deal, if it goes through, seems like it’d save AEW’s cable partner from being purchased by a company associated with WWE.
Paramount, in its pursuit of WBD, was aiming to purchase it’s cable networks also.
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