Warner Bros. Discovery (WBD) could have a new owner by Christmas, with the Saudi Public Investment Fund (PIF) emerging as the frontrunner. The high-stakes bidding war for Warner Bros. Discovery follows the company’s announcement that it will be split into two parts — one for entertainment and streaming, and the other for news and sports.
Following the announcement, WBD began receiving unsolicited bids, leading Warner Bros. Discovery CEO David Zaslac to explore options and halt the split.
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Now, International Business Times is reporting that PIF is at the forefront of the bidding war for the $57 billion global media company.
Other interested buyers
Although PIF is reportedly in the lead, several major U.S. players are also pursuing the company:
- Paramount-Skydance submitted a largely cash offer at nearly $24 per share, or approximately $60 billion. But Warner Bros. Discovery rejected the bid.
- Comcast is expected to examine Warner Bros. assets as well, Reuters reported. Comcast CEO Brian Roberts also reportedly traveled to Saudi Arabia to explore a partnership with PIF.
- Netflix and Amazon are also considering placing bids, according to multiple reports.
A takeover of WBD would instantly reshape the global media landscape, collapsing some of Hollywood’s most iconic brands — including Warner Bros., HBO, CNN, Discovery, and DC — into a new ownership structure.
Regulatory hurdles ahead
Any sale would require approval from the Trump administration, along with review by European regulators. A Saudi-led takeover of a major U.S. media company would face heightened scrutiny over issues ranging from national security to editorial independence.
