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American media giant Warner Bros. Discovery (WBD) has received a second round of binding offers from Paramount, Comcast and Netflix. While the Paramount offer is for all of WBD, Comcast and Netflix are only interested in the Warner Bros. studios and the HBO Max streaming service. In the latest update, Netflix is said to have made a mostly-cash offer and is working on a bridge loan that totals “tens of billions of dollars” as per Bloomberg sources. Meanwhile, Paramount’s offer is backed by the family of Oracle co-founder Larry Ellison with debt financing from Apollo Global and certain Middle East funds, sources said. WBD’s chair emeritus John Malone mentioned that $30/share is possible (the stock closed at $23.87 on Monday).
WBD’s 4.279% 2032s traded a tad lower at 91.482 yielding 5.92%.
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