Despite the ink still drying on the merger of Warner Bros. and Discovery, the newly minted conglomerate may soon be taken over by another media giant.
In a breakdown of the financial struggles Warner Bros. Discovery is currently facing by The Hollywood Reporter, an interesting piece of information emerged: Comcast has its eye on acquiring the struggling company and merging it with NBCUniversal. While the unification of Warner Bros. with Discovery seemed to be a beneficial one for all involved, things have quickly gone south. From the cancellation of Batgirl and Scoob: Holiday Haunt to the purging of numerous films and shows on HBO Max to massive layoffs, Warner Bros. Discovery's birth was quickly met with bad press and a legion of angered creatives. The highly publicized moves by new CEO David Zaslav saw WBD's stock plummet, and that's reportedly what has so enticed Comcast.
Per THR, Comcast CEO Brian Roberts is eagerly awaiting April 2024, when the legal hurdles preventing the purchase of WBD will be out of the way. Of course, the merger of two massive media companies would still face numerous antitrust concerns, but it wouldn't be impossible for the companies to join together. "Obviously, Peacock sucks," said an unnamed executive familiar with both companies about NBCUniversal's current streaming service. "There are some good synergies. I'm sure [Roberts] is licking his chops because the [WBD] stock is so low. And I think that's Zaslav's endgame. Get the place sold."
Warner Bros. Discovery Is in Financial Trouble
Zaslav has indeed proved shrewd as the head of the new company, with every indication that Batgirl was ultimately shelved as a write-off. What's more, the HBO Max purge is reportedly saving the company millions, money that's sorely needed as it faces $50 million in debt.
"People feel like it's Comcast for sure," said another source. "It's going to be so depressing to lose another major studio [after Disney bought Fox]. And Warners was the Tiffany studio."
The coalescing of Disney and Fox saw similar cancellations and concerns about creative freedom moving forward, and the merger between two more powerful film and television studios would provide creators with even fewer options. But Warner Bros. Discovery insists a sale isn't its endgame. "We are building Warner Bros. Discovery for the long term," a spokesperson said.
Either way, the next two years will present plenty of challenges for the new company and its divisive CEO as they struggle to fix a tainted reputation, win back creatives, and turn DC Films into a viable rival to Marvel Studios.
Source: The Hollywood Reporter