Warner Bros. Discovery only recently wrapped up its mega-merger, but another could be on the horizon.
Comcast is reportedly eyeing the media giant, per the Hollywood Reporter. Warner Bros. Discovery became a single company on the completion of a $43 billion merger in which AT&T spun off Warner Bros.
- Comcast is reportedly intrigued by Warner Bros. Discovery’s flagging stock price. The company is down around 47% since hitting the NASDAQ in April.
- Warner Bros. Discovery’s market capitalization sits at $31.34 billion.
- Comcast is down 39.5% over the last 12 months, falling to a market cap of $150.82 billion.
Due to details of the Warner Bros. Discover merger, no formal takeover negotiations can start until April 2024.
A New Sports Giant?
A combined Comcast and Warner Bros. Discovery would have an impressive portfolio of sports rights.
Comcast holds U.S. rights to the NFL, including “Sunday Night Football,” the Olympics, the Premier League, and a package of Sunday morning MLB games on its streaming service Peacock.
Warner Bros. Discovery has NBA rights through Turner Sports, plus a host of European rights from Eurosport.
After a $773 million agreement with BT Sport closed in September, its rights include the Premier League, UEFA Champions League, the Olympics, Grand Slam tennis tournaments, and the Tour de France.
Warner Bros. Discovery will have the option to buy out BT Sport in three years.