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U.S. Stock Movement | Netflix (NFLX.US) Drops Over 3% Amid Reports of Potential Bid for Warner Bros. Discovery

Stock News
Nov 14

Netflix (NFLX.US) fell more than 3% on Friday, closing at $1,120.96. Reports indicate that Netflix, along with Paramount (PSKY.US) and Comcast (CMCSA.US), is preparing to submit non-binding preliminary bids for Warner Bros. Discovery (WBD.US) by November 20.

Paramount, backed by David Ellison, Larry Ellison, and RedBird Capital Partners, is reportedly seeking to acquire Warner Bros. Discovery in its entirety. Its latest offer of $23.50 per share represents a nearly 90% premium over the stock's price before acquisition interest emerged.

Meanwhile, Comcast and Netflix are said to be primarily interested in Warner Bros.' film and TV production studios, as well as the HBO Max streaming platform, excluding cable networks such as CNN, TNT, and Discovery Channel.

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