The updated proposals were submitted on Monday. Netflix shifted to an almost all-cash structure after its initial bid relied heavily on stock. Paramount tabled an all-cash offer financed by private equity group Apollo and unnamed Middle Eastern sovereign wealth funds. The support structure would allow David Ellison and RedBird Capital to retain full control of Paramount if the bid succeeds. Paramount is the only party seeking to acquire all of Warner Bros. Discovery. Comcast and Netflix have expressed interest in the studio and streaming business but want to avoid the linear TV assets. The WBD board may invite a third round of bidding or select a preferred buyer to begin negotiating a definitive agreement. Regulatory dynamics will play a central role. Sources close to the Trump administration indicated that the Ellison-backed Paramount bid could face a smoother approval process, while Netflix and Comcast may encounter tougher scrutiny. Any sale would include the Warner Bros. film...
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