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Investing.com -- Warner Bros. Discovery Inc. has requested potential buyers to submit enhanced offers after receiving an initial round of bids, according to a report from Bloomberg News, citing people familiar with the matter.
The entertainment giant, which owns HBO and CNN, put itself up for sale last month and has now asked bidders to provide improved offers by December 1, said the sources, who requested anonymity because the proceedings are confidential.
Paramount Skydance Corp., Comcast Corp., and Netflix Inc. are all competing to acquire some or all of Warner Bros. Discovery. These companies submitted their initial bids last week to meet the first deadline.
After reviewing the improved offers, Warner Bros. Discovery may enter exclusive negotiations with one of the interested companies, some of the sources indicated.
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