Warner Bros. Discovery Won
While everyone is focused on whether Netflix or Paramount Skydance will acquire Warner Bros. Discovery, there’s a different way of thinking about the situation. Regardless of who wins (and we can’t rule out the appearance of a dark horse) the actual winner has already been determined: Warner Bros. Discovery (WBD). Legacy video IP is being overvalued in today’s landscape. WBD is right to sell, and I have my doubts that the acquisition is going to fundamentally change the variables that have already been set in motion in video streaming.
One reason why the WBD auction turned into what seemed to be such a free-for-all is the company pegged as having the lowest odds of winning ended up being WBD’s preferred acquirer.
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