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Comcast (CMCSA) is reportedly weighing a higher bid for Warner Bros. Discovery (WBD), according to the New York Post, adding new intensity to an already crowded takeover battle. This potential move comes as Netflix (NFLX) increases its pursuit of WBD’s streaming and studio assets and as Paramount Skydance (PSKY) emerges as the current frontrunner with a $25/share offer for the entire company.

• The New York Post reports CMCSA may consider a $27–$28/share bid, representing a meaningful premium that highlights both the rising price tag and CMCSA’s urgency to jumpstart growth.
• CMCSA and NFLX are targeting only WBD’s streaming (HBO Max) and studio operations, while PSKY seeks to purchase the entire company, including the cable networks (TNT, TBS, CNN, Discovery).
• WBD has explored splitting into a standalone streaming/studio entity and a separate cable business, but the escalating bidding war makes a full sale increasingly attractive.
• CMCSA is motivated by deteriorating fundamentals: its stock is down 30% this year and Connectivity & Platforms continues to see revenue declines, subscriber losses, and margin pressure.
• Acquiring HBO Max and Warner Bros. studios would give CMCSA upgraded streaming scale, stronger IP, and a more competitive content pipeline - areas where it trails NFLX, Disney (DIS), and Amazon (AMZN).
• However, political dynamics are creating obstacles. President Trump reportedly favors PSKY and views CMCSA CEO Brian Roberts unfavorably, making regulatory approval harder for CMCSA even with a higher bid.

Briefing.com Analyst Insight:

WBD’s fate is fast becoming the defining consolidation moment in modern media. The company’s premium content library, global brands, and sports rights make it one of the last large-scale assets capable of reshaping the streaming landscape. For CMCSA, the logic of acquiring WBD’s crown jewels is compelling, offering a rare opportunity to reinvigorate Peacock and restore growth to its broader media portfolio. But given political headwinds and competitors with cleaner deal structures, CMCSA remains an underdog. No matter the final outcome, the industry is likely to emerge more concentrated - and the battle for premium IP more intense - as the streaming wars enter a new phase of scale-driven survival.