Netflix emerges as the highest bidder for Warner; Paramount raises concerns over ‘fairness’

Netflix has put in the highest bid among suitors for Warner Bros Discovery, a source told Reuters on Thursday, upping the ante in a deal that could reshape the media industry.

The streaming giant’s proposed acquisition of Warner Bros Discovery’s studios and streaming unit is expected to reduce streaming costs for consumers by bundling Netflix and HBO Max, Reuters had reported on Tuesday.

Earlier on Thursday, CNBC reported that Netflix had presented a proposal consisting of 85% cash for the assets it seeks to acquire.