Warner Bros. Discovery CEO David Zaslav met with Comcast CEO Brian Roberts last week as the latter explores a potential bid for the former’s studio and streaming assets, TheWrap has learned.
TheWrap previously reported that Comcast has enlisted Morgan Stanley and Goldman Sachs as financial advisors to help evaluate a potential offer. It also has been granted access to Warner’s data room to review the company’s financials.
Specific details around the meeting and conversation, which were first reported by Semafor, could not immediately be learned. A spokesperson for WBD declined to comment, while a representative for Comcast did not immediately return TheWrap’s request for comment.
The meeting comes as Netflix has also hired Moelis & Co. to explore its own bid for WBD’s studio and streaming business. Paramount has also submitted three offers for all of Warner Bros. Discovery, ranging between $19 and $23.50 per share, which were rejected by Warner’s for being too low.
In addition to continuing on with its planned split into Warner Bros. and Discovery Global, which remains on track for completion in April, the company’s board will also consider separate transactions for those two companies or a deal for the entire combined company. WBD also said it would consider an alternative separation structure that would enable a merger of Warner Bros. and spin off of Discovery Global to its shareholders.
Zaslav declined to discuss the company’s strategic review during last week’s earnings call, but said an “active process” is underway.
More to come…
