Warner Bros. Discovery Says Unknown ‘American Media Company’ Offered Takeover Bid
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Discovery Says Unknown ‘American Media Company’ Offered Takeover BidByTy Roush,Forbes Staff. Ty Roush is a breaking news reporter based in New York City.Follow AuthorDec 17, 2025, 02:15pm ESTToplineWarner Bros. Discovery on Wednesday disclosed a fourth bidder submitted an offer for the company, adding to bids from Netflix, Paramount and Comcast, though little is known about the unnamed firm. Three other companies submitted offers for the media conglomerate, including Netflix, Paramount and Comcast.Getty ImagesKey FactsWarner Bros. Discovery, in a Securities and Exchange Commission filing, said it received offers for all or some of its business from Netflix and Paramount, as well as a “Company A” and a “Company C,” which Warner Bros. Discovery labeled an “American media company.”“Company A” offered to buy just Warner Bros. Discovery’s film and streaming assets, matching a bid reportedly made by Comcast, which was not named in the filing.Unlike the three other offers, “Company C” bid for Warner Bros. Discovery’s Global Networks business—including CNN, TNT and TBS, among others—in addition to 20% of its film and streaming assets.Warner Bros. Discovery said it determined a proposal from “Company C” was “not actionable” and opted to move forward with preliminary offers from Netflix, Paramount and “Company A” in late November, according to the filing.Who Else Could Have Bid For Warner Bros. Discovery?Warner Bros. Discovery CEO David Zaslav told executives in October that Amazon and Apple had expressed interest in acquiring the company, Bloomberg reported, citing two people familiar with the discussions, though neither firm would match the “American media company” label. It’s not immediately clear what other companies would have submitted offers for Warner Bros. Discovery, though other firms submitted bids for Paramount last year before an $8 billion acquisition by Skydance.
Apollo Global Management and Sony offered roughly $26 billion in a joint-acquisition bid.
Allen Media Group, which owns The Weather Channel, made a $30 billion bid for Paramount with plans to sell the company’s film studio, real estate and intellectual property while holding its streaming and TV businesses. Read MoreGot a tip? Share confidential information with Forbes.Editorial StandardsReprints & PermissionsLOADING VIDEO PLAYER...FORBES’ FEATURED Video