Netflix has sweetened its offer for Warner Bros. Discovery in a second round of bids as it tries to outdo rival Paramount.
The streamer on Monday made a primarily cash-based second offer for the entertainment and streaming assets of Warner Discovery and is working to secure tens of billions in financing to fund the purchase, people familiar with the matter said.
Paramount also made an improved offer for all of Warner Discovery, including its collection of cable networks like CNN and TNT, some of the people said.
Comcast Corp., parent of NBCUniversal, has submitted a second bid for the entertainment assets as well, a person with knowledge of that situation said. Like Netflix, Comcast is interested in the studios and streaming service, not the cable channels.
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