Starz Placed $25 Billion Bid For All Of Warner Bros. Discovery’s Cable Networks Including Cartoon Network And TLC

Starz put in a $25 billion bid for all of Warner Bros. Discovery’s cable networks and 20% of its studio and streaming businesses last month, TheWrap has learned, acting as a dark horse contender for an asset most companies bidding on the entertainment company were not interested in.

Warner Bros. Discovery revealed in a filing with the U.S. Securities and Exchange Commission that a previously undisclosed company — labeled “Company C” in the filing — put in the $25 billion all-cash bid on its Nov. 20 deadline. It also proposed a 90-day exclusivity period, which Netflix, Paramount Skydance and Comcast (labeled “Company A” in the filing) did not.

That company was Starz. While the WBD board considered all the bids on Nov. 21, it found that Company C’s bid was “not actionable at that time” and responded to the top three bidders on Nov. 22.

Puck first reported the news.

The filing also revealed more details about Netflix’s and Paramount’s efforts to purchase some or all of WBD, as the companies publicly advocate for their bids to WBD’s shareholders. Netflix and WBD entered into an exclusive arrangement for the streamer’s $82.7 billion bid for the studio and streaming businesses, while Paramount has mounted a $30-a-share hostile takeover bid for the entire company. WBD on Wednesday rejected Paramount’s latest offer.

A Starz spokesperson declined to comment. Starz CEO Jeff Hirsch previously told TheWrap that he wanted his company to be “additive” to networks he believed were too linear-focused in a digital age.

“There’s a lot of networks out there today that are marooned on the linear side and don’t have technical capabilities to do what we’ve done,” he said in May after Starz completed its spin-off from Lionsgate. “We think we can be very additive to content that is stuck on the linear side to give them a digital future.”

Starz reported a $53 million loss in its third quarter, missing Wall Street expectations, and revenue dropped 8% to $320.9 million. It reported a loss of 130,000 U.S. subscribers for a total of 17.5 million, driven mostly by linear subscribers’ cord-cutting. Linear subscribers also dropped by 24o,000 to 5.17 million while it saw a streaming increase of 110,000 U.S. subscribers for a total of 12.3 million.

Still, Hirsch teased the possibility of venturing into the M&A space during its third-quarter call in November, a week before the company reportedly placed its bid for WBD’s cable networks.

“With a potential for increased consolidation across the media landscape, we believe that we are uniquely positioned to capitalize on potential M&A opportunities,” Hirsch said. “Given our track record of profitability converting our business from linear to digital and our industry-leading tech stack, we are positioned to increase our scale as assets that are strategically valuable to Starz become available.”

The company reportedly found its first target last month when it expressed interest in A+E Global Media, the parent company of networks such as Lifetime and the History Channel.

Warner Bros. Discovery Rejects Paramount's $108 Billion Bid For The Company

Warner Bros. Discovery still isn't interested in Paramount Skydance's offer.

Paramount's latest bid "is inadequate, with significant risks and costs imposed on our shareholders" compared to Netflix's bid, which "represents superior, more certain value for our shareholders," said Samuel Di Piazza, the chair of WBD's board of directors, in a statement to shareholders on Wednesday morning.

In a letter to shareholders, WBD's board recommended that shareholders reject Paramount's all-cash bid of $30 per share in favor of Netflix's cash-and-stock offer. Paramount wants to buy all of WBD, including its cable channels, while Netflix's bid of $27.75 per share is for WBD's studio, HBO, and HBO Max. A key difference between the two bids revolves around the value of WBD's TV networks, such as CNN and TNT, which Netflix isn't interested in buying.

Di Piazza said that Paramount's seventh proposal "once again fails to address key concerns that we have consistently communicated," including about Paramount's financing.

Paramount has said its bid is fully backstopped by Larry Ellison, one of the richest people in the world and father to Paramount CEO David Ellison. The WBD board said in the letter to shareholders that it relies "on an unknown and opaque revocable trust" whose assets or liabilities are subject to change.

Meanwhile, Netflix is paying with cash and stock. Its shares have fallen recently but surged more than 600% from mid-2022 to mid-2025. Netflix has a market cap of over $400 billion.

While Paramount has said that it would have an easier time securing regulatory approval than Netflix, the WBD board says it "does not believe there is a material difference in regulatory risk" between the two proposals.

The Ellisons are close to President Donald Trump. However, Netflix co-CEO Ted Sarandos has pitched the president on the deal and seems to have earned some respect. Trump has called Sarandos a "great person," though he added that the Netflix-Warner Bros. deal "could be a problem" on the regulatory front. Still, the president hasn't come out publicly in favor of one side in the deal.

WBD also said its board "repeatedly engaged" with interested parties, including the Ellisons. Paramount had previously said that WBD went quiet late in the bidding process.

Not even Paramount can be surprised by WBD's decision to stick with its Netflix deal.

David Ellison was overheard saying last week that if WBD's leadership were to "accept the offer exactly as it is today, right, then they're admitting breach of fiduciary duty," Business Insider previously reported.

That's because Paramount said its $30-per-share hostile bid was nearly identical to its previous offer to WBD. Public companies are obligated to act in the best interests of shareholders. So if WBD's board had changed its mind, it could have opened itself up to shareholder lawsuits.

WBD had said in a statement after Paramount's hostile bid that it would "carefully review and consider Paramount Skydance's offer" in a way that was "consistent with its fiduciary duties and in consultation with its independent financial and legal advisors."

Now that WBD's board has given Paramount the cold shoulder again, it's Ellison's move.

The aspiring media mogul told CEO David Zaslav that Paramount's latest offer wasn't its "best and final," which suggests that a higher bid could be coming. Just how much appetite Paramount has to escalate the bidding war is the key question.

If no higher bid comes, WBD's investors have until January 8 to back Paramount, though it could extend that deadline. WBD would owe Netflix a $2.8 billion reverse breakup fee if its shareholders chose Paramount.

Read the full letter to shareholders here:

Dear Fellow Shareholders,

As your Board of Directors, we are committed to acting in your best interest. In this spirit, in October, we launched a public review of strategic alternatives to maximize shareholder value. This followed three separate proposals from Paramount Skydance ("PSKY"), as well as interest from multiple other parties.

That thorough process, overseen by the Board with the assistance of independent financial and legal advisors, as well as our management team, led to the company entering into a merger agreement with Netflix on December 4, with the substantial benefits to WBD shareholders described below. Having failed to submit the best proposal for you, our shareholders, PSKY launched an offer nearly identical to its most recently rejected proposal.

As a Board, we have now conducted another review and determined that PSKY's tender offer remains inferior to the Netflix merger. The Board continues to unanimously recommend the Netflix merger, and that you reject the PSKY offer and not tender your shares.

Below, and in more detail in our 14D-9 filing, we highlight the many reasons for the Board's determination. None of these reasons will be a surprise to PSKY given our clear, and oft-repeated, feedback on their six prior proposals.

The terms of the Netflix merger are superior. The PSKY offer provides inadequate value and imposes numerous, significant risks and costs on WBD.

The value we have secured for shareholders through the Netflix merger is extraordinary by any measure.

Our agreement with Netflix gives WBD shareholders $23.25 in cash, plus $4.50 in shares of Netflix common stock (based on a collar range of $97.91 - $119.67 in the Netflix stock price at the time of closing), plus the additional value of the shares of Discovery Global and the opportunity to participate in future potential upside following Discovery Global's separation from WBD. The entire Board is confident in our recommendation that Netflix represents the best value-creating path for shareholders.

PSKY has consistently misled WBD shareholders that its proposed transaction has a "full backstop" from the Ellison family. It does not, and never has.

PSKY's most recent proposal includes a $40.65 billion equity commitment, for which there is no Ellison family commitment of any kind. Instead, they propose that you rely on an unknown and opaque revocable trust for the certainty of this crucial deal funding. Despite having been told repeatedly by WBD how important a full and unconditional financing commitment from the Ellison family was — and despite their own ample resources, as well as multiple assurances by PSKY during our strategic review process that such a commitment was forthcoming — the Ellison family has chosen not to backstop the PSKY offer.

And a revocable trust is no replacement for a secured commitment by a controlling stockholder. The assets and liabilities of the trust are not publicly disclosed and are subject to change. As the name indicates, revocable trusts typically have provisions allowing for assets to be moved at any time. And the documents provided by PSKY for this conditional commitment contain gaps, loopholes and limitations that put you, our shareholders, and our company at risk.

Amplifying the concerns about the credibility of the equity commitment being offered by PSKY, the revocable trust and PSKY have agreed that the trust's liability for damages, even in the case of a willful breach, would be capped at 7% of its commitment ($2.8 billion on a $108.4 billion transaction). Of course, the damage to WBD and its stockholders were the trust or PSKY to breach their obligations to close a transaction would likely be many multiples of this amount.

WBD's merger agreement with Netflix is a binding agreement with enforceable commitments, with no need for any equity financing and robust debt commitments. The Netflix merger is fully backed by a public company with a market cap in excess of $400 billion with an investment grade balance sheet. The debt financing for the PSKY bid relies on an unsecure revocable trust commitment as well as the credit worthiness of a $15 billion market cap company with a credit rating at or only a notch above "junk" status from the two leading rating agencies. The financial condition and creditworthiness of PSKY, which, if its proposed transaction were to close, would have a high gross leverage ratio of 6.8x 2026E debt to EBITDA with virtually no current free cash flow generation before synergies, raise substantial risks for its acquisition of WBD. Such debt levels reflect a risky capital structure that is vulnerable to even potentially small changes in the PSKY or WBD business between signing and closing.

Additionally, PSKY contemplates $9 billion in synergies from the mergers of Paramount/Skydance and their offer for WBD. These targets are both ambitious from an operational perspective and would make Hollywood weaker, not stronger.

The Board's review was full, transparent and comprehensive — establishing a level playing field that fostered a rigorous and fair process.

The Board repeatedly engaged with all parties, including extensive engagement with PSKY and its advisors over the course of nearly three months. We held dozens of calls and meetings with its principals and advisors including four in-person meetings and meals between David Zaslav and David and/or Larry Ellison and provided multiple opportunities for PSKY to offer a proposal that was superior to those of the other bidders, which PSKY never did.

After each bid, we informed PSKY of the material deficiencies and offered potential solutions. Despite this feedback, PSKY has never submitted a proposal that is superior to the Netflix merger agreement.

Despite PSKY's media statements to the contrary, the Board does not believe there is a material difference in regulatory risk between the PSKY offer and the Netflix merger.

The Board carefully considered the federal, state, and international regulatory risks for both the Netflix merger and the PSKY offer with its regulatory advisors. The Board believes that each transaction is capable of obtaining the necessary U.S. and foreign regulatory approvals and that any difference between the respective regulatory risk levels is not material. The Board also notes that Netflix has agreed to a record-setting regulatory termination cash fee of $5.8 billion, significantly higher than PSKY's $5 billion break fee.

The PSKY offer is illusory.

The offer can be terminated or amended by PSKY at any time prior to its completion; it is not the same thing as a binding merger agreement. The first paragraph of the offer states it is "subject to the conditions set forth in this offer to purchase (as it may be amended or supplemented from time to time)" and continues on the next page, "we reserve the right to amend the Offer in any respect (including amending the Offer Price)". In addition, the offer is not capable of being completed by its current expiration date, due to the need for, among other things, global regulatory approvals, which PSKY indicates may take 12-18 months. Nothing in this structure offers WBD shareholders any deal certainty.

The PSKY offer provides an untenable degree of risk and potential downside for WBD shareholders.

There will be additional costs associated with PSKY's offer that could impact shareholders.

When considering the PSKY offer at this juncture, it is important to note that its acceptance could incur significant additional costs to shareholders — all of which PSKY has ignored in their communications. WBD would have to pay Netflix a $2.8 billion termination fee, which PSKY has not offered to reimburse. In addition, WBD would incur approximately $1.5 billion in financing costs if we do not complete our planned debt exchange as agreed to with certain of our debtholders, which would not be permitted by the PSKY offer. This additional $4.3 billion in potential costs represents approximately $1.66 per share to be borne by WBD shareholders if the offer does not close.

We look forward to moving ahead with our combination with Netflix and delivering the compelling and certain value it will create for shareholders. We urge you to carefully read the 14D-9 filed with the SEC this morning and available on our website, which more fully details the strategic review process and the Board's reasons for its recommendation to you.

Sincerely,

The Warner Bros. Discovery Board of Directors

Paramount+ Greenlights Mo Willems’ ‘The Elephant & Piggie Show’ and ‘The Pigeon Show!’

Paramount+ is getting into the Mo Willems’ animated animal business in a big way. The streamer announced today that it has greenlit two animated series, The Elephant & Piggie Show! and The Pigeon Show! Starring the Pigeon, based on the best-selling children’s author and illustrator’s books. This is the first time Paramount+ is collaborating with the author’s Hidden Pigeon production company.

“Mo Willems has delighted kids and ‘former kids’ around the world with these beloved characters,” said Jane Wiseman, Head of Originals for Paramount+. “Whether it’s Elephant and Piggie navigating the hard work of ‘best-friending’ or The Pigeon confusing wants and needs (a hot dog! a cookie! to drive the bus!), these characters remind us that the best stories are the ones that make us laugh and feel something real. We’re thrilled to bring them to life on Paramount+.”

“We are so excited to be partnering with Paramount+ to further expand the world of Mo Willems through these two new series,” said Karen K. Miller, CEO of Hidden Pigeon Company. “We can’t wait to present more of the characters and stories that kids everywhere already know and love in ways that will surprise and delight them at every turn.”

The Elephant & Piggie Show! is described as a warm, comedic pre-K series about the hilarious and sometimes challenging work of “best-friending.” The series takes place in the small, walkable neighborhood of Willemsburg, which is full of new locations audiences will love. Elephant Gerald is careful; his best friend Piggie is not. Gerald worries so that Piggie does not have to and together, along with young audiences, they will celebrate the messy and joyful art of friendship.

The Pigeon Show! Starring the Pigeon animates the day-to-day struggles of a pigeon who just wants to be listened to. He will be your best friend if you have a bus and you let him drive it. The series features familiar characters from Willems’ books, such as the adorable Duckling who always seems to get what she wants, plus new characters, like The Pigeon’s 150-million-year-old pterodactyl grandmother, Nana-Dactyl, and his best wing-pals, Ima Pigeon and Doug Pigeon.

Willems is a #1 New York Times best-selling author and illustrator who has received the Caldecott Honor on three occasions (for Don’t Let the Pigeon Drive the Bus!, Knuffle Bunny: A Cautionary Tale, and Knuffle Bunny Too: A Case of Mistaken Identity). His popular Elephant & Piggie early reader series has been awarded two Theodor Seuss Geisel Medals (for There Is a Bird on Your Head! and Are You Ready to Play Outside?) and five Geisel Honors (for We Are in a Book!, I Broke My Trunk!, Let’s Go for a Drive!, A Big Guy Took My Ball!, and Waiting Is Not Easy!). Mo began his career as a writer on Sesame Street, where he received six Emmy Awards.,

How Netflix's Potential Acquisition Of Warner Bros. Discovery Affects M-Net, DStv And Showmax?

Not long ago, it was reported that Netflix won the bid to acquire Warner Bros. Discovery valuing the deal at $72 billion. This deal would DC Entertainment/Studios, Cartoon Network Studios, HBO, Warner Bros. Pictures/Television and New Line Cinema.

Below is a how this deal is bad news for MultiChoice

M-Net and Showmax

MultiChoice had been licensing Game Of Thrones and Penguins from HBO to M-Net and Showmax. In the event of an acquisition, Netflix had expressed interest to continue these partnerships with local broadcasters but it may not be easy.

If MultiChoice continues to license content from Warner Bros. they could as well look to increase the rates. This is something MultiChoice's new owners Canal+ may not find amusing as they've begun cost cutting due to DStv's shrinking consumer base.

Besides that, the previous owners at MultiChoice had been anti-Netflix for sometime so the general audience had sort of painted a certain image of the company. While free-to-air broadcasters such as SABC and eMedia Investments had been licensing from the streamer.

MultiChoice put up a wall between them and Netflix again this was the previous owners regime as Canal+ does view them as partners. They do have an agreement to bundle their services in francophone markets alongside a content deal through K+.

The reality is while Warner Bros. continues to license content to M-Net and Showmax, Netflix will likely make further productions exclusive to their services. If they do continue licensing, I doubt MultiChoice would want their scraps.

Netflix is already available in the market which further complicates things as M-Net and Showmax are meant to go hand in hand with their content. But then again, MultiChoice is part of StudioCanal's parent company which gives them leverage.

Netflix may offer Stranger Things, Squid Games and Wednesday but with Canal+'s MultiChoice there's Paris Has Fallen, Spinners and iShaka iLembe.

DStv

For this part, I feel there's a lot of exaggeration as Netflix is not acquiring Discovery, TLC or the linear Cartoon Network as that is being spun off into a separate company. Of course, Netflix's bid to be frank sort of dilutes the value of Cartoon Network.

Cartoon Network under Discovery Global will be leaning more toward third party programming such as Lego Ninjago, Dragonball Super and Totally Spies!. While what made Cartoon Network, Nickelodeon and Disney "The Big 3" like Regular Show and Tiny Toons Looniversity goes to Netflix.

It's likely that they will be a licensing agreement for these shows but they'll most definitely be like DreamWorks Channel - reruns. Under a separate company, they're not going to prioritise on these Netflix originals.

If it is deemed expensive these shows could as well get phased out and again that just dilutes Cartoon Network who had been reliant on these IPs.

Turning over the torch to Discovery Global, this is the company that MultiChoice is involved in a carriage dispute with over the future of its 12 channels. These include Discovery Channel, HGTV, TLC and as mentioned the linear Cartoon Network.

Of course, the matter of concern here to me is that as mentioned with Cartoon Network while the Netflix deal makes the company more leaner. There's still another 20 billion worth of debt they need to clean out.

Expecting for content to be reduced, potential sales or closures to operations or channels and lastly massive layoffs particularly for international feeds.

All of this might as well unfold while these channels are no longer on DStv but then again it's likely that MultiChoice could opt to keep a few channels. My guess would be Discovery Channel, TLC, Cartoon Network, Real Time, Cartoonito, ID and CNN.

‘HBO, DC, Cartoon Network’: 10 Companies That Netflix Will Now Own After The Warner Bros Buyout

Following Netflix’s agreement to acquire Warner Bros Discovery’s TV and film studios and streaming division in a deal valued at roughly $72 billion, the streaming giant will take control of some of the most influential brands in global entertainment. Based on the assets included in the sale, here are 10 major companies and brands Netflix will now own.

1. HBO

The deal includes Warner Bros Discovery's streaming and premium-TV business, giving Netflix full ownership of HBO, one of the strongest content brands in the world, known for Game of Thrones, Succession, The Last of Us and more.

2. HBO Max / Max

Netflix will also acquire the HBO Max (rebranded as Max) streaming service, a direct competitor. This dramatically increases Netflix’s control over prestige television and reshapes the streaming landscape.

3. Warner Bros Television

The acquisition includes Warner Bros’ television production unit, one of the industry’s largest suppliers of scripted and unscripted programming, producing shows for networks globally.

4. Warner Bros Pictures

Netflix gains control of Warner Bros Pictures, the centerpiece film studio behind franchises such as Harry Potter, DC Films, Mad Max and Fantastic Beasts.

5. DC Entertainment / DC Studios

The DC superhero universe featuring Batman, Wonder Woman, Superman, Joker and more, falls under Netflix’s ownership as part of the studios division.

6. New Line Cinema

The iconic studio behind The Lord of the Rings, The Conjuring and IT will become part of Netflix’s content empire through the Warner Bros acquisition.

7. Cartoon Network Studios

The animation division producing global hits like Ben 10, Adventure Time and The Powerpuff Girls will be owned by Netflix, expanding its youth and animation catalogue.

8. Adult Swim

Known for Rick and Morty, Aqua Teen Hunger Force and cult animation, Adult Swim also moves under Netflix as part of the studios and TV assets it is buying.

9. Turner Classic Movies (TCM)

TCM’s extensive classic-films library and broadcast brand will fall under Netflix's control, giving it unmatched catalogue depth.

10. Vox Media Partnership Assets

Warner Bros Discovery maintains multiple joint ventures, including content partnerships with Vox Media (such as digital news/documentary collaborations). These partnership rights transfer to Netflix as part of the studio and streaming business purchase.

The article was originally published by Wionews

Netflix Wins the Warner Bros. Discovery Bidding War, Enters Exclusive Deal Talks

Warner Bros. Discovery is moving forward with exclusive deal talks with Netflix, TheWrap has learned.

WBD has selected Netflix after the streaming giant offered $30 a share for the studio and streaming assets, according to two people familiar with the deal talks. The deal also includes a $5 billion break-up fee to match the terms that Paramount added with its bid.

While its unclear what the makeup of the new bid looks like, the prior bid was a mix of mostly cash and stock.

Netflix securing a win over rival suitors Paramount and Comcast represents a stunning turnaround from just two months ago, when co-CEO Greg Peters shaded big media mergers as not having an “amazing track record,” and Paramount buying WBD seemed like a foregone conclusion. Fast forward to today, and Netflix has won a furious M&A bake-off after three rounds of bids.

Representatives for Netflix and WBD weren’t immediately available for comment.

These exclusive talks clear the road for Netflix to acquire the Warner Bros. studios, HBO Max and a treasure trove of IP assets like “Harry Potter” and the DC Universe. Netflix, which once aspired to be like HBO when first embarking on original content, is on a course to become its next owner. Obtaining such assets could dramatically reshape the entertainment landscape and give Netflix even more power over Hollywood — concerns the streamer will have to assuage.

Regulatory hurdles

The willingness to include the unusually large breakup fee was likely critical with questions arising on how Netflix will get a deal with Warner Bros. through regulatory approval. It would face stiff antitrust scrutiny and opposition from the U.S. Department of Justice, New York Post’s Charles Gasparino reported on Tuesday.

A representative for the Department Justice declined to comment on the report.

In a Nov. 13 letter to U.S. Attorney General Pam Bondi, Federal Trade Commission Chairman Andrew Ferguson and Department of Justice antitrust division assistant attorney general Gail Slater, Republican Rep. Darrell Issa warned that a Netflix bid would raise antitrust concerns that could harm consumers and Hollywood alike. He noted that consolidation between the two companies would “diminish incentives to produce new content and major theatrical releases,” which could “undermine opportunities for the full range of industry professionals both in front of and behind the camera.”

California Attorney General Robert Bonta has previously voiced his opposition to any deals involving WBD. “Further consolidation in markets that are central to American economic life — whether in the financial, airline, grocery or broadcasting and entertainment markets — does not serve the American economy, consumers or competition well,” his office told TheWrap last month in response to Paramount’s initial offer.

“We are committed to protecting consumers and California’s economy from consolidation we find unlawful,” the spokesperson added.

The process of completing the deal could distract the company from executing its core business. There’s also the X factor of Netflix jumping into the deep end of the theatrical business, a part of the entertainment world it has kept its distance from. Netflix shares fell 5% on Wednesday when investors realized the prospect of a deal happening was very real.

Would Paramount Be A Good Suitor For Warner Bros. Discovery Global?

Paramount is planning to several linear channels across the world by the end of 2025. This includes Nickelodeon's channels in New Zealand and Brazil, BET in France and MTV's music channels across Europe.

Amidst this, Paramount is currently in pursuit of Warner Bros. Discovery which distributes brands like Discovery Channel, HGTV, Cartoon Network and CNN. Prior to this bid, Warner Bros. Discovery was exploring potential split with most of their cable networks forming part of Discovery Global.

If we analyze most of the channels Paramount is looking to shutter across the world such as BET in France and Nickelodeon in Brazil. You would discover that most of the hits target regional or localised brands which does lead us to wonder what is to become of Discovery Global.

Discovery Global offers a lot of cable networks compared to Paramount the ones which have seen success internationally include Cartoonito, Boing and DMAX. These would expand to include regional networks like Discovery Family, Real Time and TNT.

In the event where Paramount bid is probably deemed successful whose to guarantee that these networks won't walk out the door. Paramount is pivoting toward streaming and wanting to offer content with global appeal.

If you look at the state of Paramount's cable networks their operations would be reduced to just MTV, Comedy Central, Nickelodeon, Nick Jr. and Nicktoons by next year. As BET, MTV Base and various other channels get their affairs in order and bid farewell.

There's a chance Cartoon Network and Nickelodeon could be placed under the same umbrella although Paramount intends to keep certain aspects of Warner Bros. Discovery. Reductions is the one thing that usually comes out of a merger or acquisition.

Paramount intends to merge HBO Max with Paramount+ and that wouldn't necessarily equal more content. HBO Max in such a transaction could become what Hulu is on Disney+ globally as opposed to a juggernaut like Netflix.

Paramount very much like Warner can see the writing on the wall when it comes to dominance and the reality is that not everyone can be a shark under water. Some companies to resort to partnerships or even mergers to become a bigger fish in the ocean.

Usually in merger and acquisitions, the acquiring company puts their needs above all else. In the first round, it would be Nickelodeon, Nicktoons, Nick Jr., from Paramount going up against Cartoon Network and Cartoonito from Warner Bros. Discovery.

Warner Bros. Discovery had been reliant on third party content for these cable networks and Paramount may not like that strategy. Aside from that, Cartoon Network makes 15%-20% of its revenue from 2014 which has affected the channel's overall performance.

Teen Titans GO! is currently the only primetime show on the network while other productions like Tiny Toons Looniversity and We Baby Bears wrap productions. Then there's Batwheels on Cartoonito which has been on limbo following its third season renewal.

Paramount in its attempts at scaling back on costs could opt to merge Cartoon Network's operations with that of Nickelodeon or Nicktoons while Cartoonito is phased out in favour of Nick Jr.

The second round would comprise of Travel Channel, Discovery Family, Real Time and TNT.

As seen already, Paramount is scaling back on its international operations with the closures of CBS Reality, CBS Justice, MTV Base and BET. Whose to say that the same fate won't await these brands.

Discovery Channel and TLC have more reruns and part of their primetime shows are likely reruns from HGTV and Food Network. It kind of makes Discovery Family and Real Time obsolete if the company doesn't have much content for their core brands.

Travel Channel is very similar to BET and CBS Reality when it comes to scale with the channel that had also seen a slow decline in carriage. Under Paramount, this endeavours would be accelerated even further.

Baby Shark's Big Show Launches Soon On Play Room

Play Room, a South African based children's channel operated by Ngwato Nkosi Group offering a mixture animated and live action will be rolling out a new preschool series, Baby Shark's Big Show!. This comes after the channel acquired rights to Tyler Perry's Young Dylan from Nickelodeon.

Synopsis for Baby Shark's Big Show 

Co-produced by Nickelodeon Animation Studio and SmartStudy, the global entertainment company behind the beloved children’s brand Pinkfong, the series (26 half-hour episodes) follows Baby Shark and his best friend William as they journey on fun-filled comedic adventures in their community of Carnivore Cove, make new friends and sing original catchy tunes along the way.

In the series premiere, “Baby Tooth/Slobber Slug,” Baby Shark gets his first loose tooth and enlists William’s help to lose it so he can trade it in for a sand dollar. When their antics get the tooth lost for real, they must team up with the Toothfish Fairy to track it down. Then, while Baby Shark and his friends are playing Barnacle Ball, Hank’s pet rock, Rocky, is accidentally sent soaring into the lair of the vicious Slobber Slug and they must stage an elaborate rescue mission.

Baby Shark’s Big Show! is executive produced by Gary “Doodles” DiRaffaele (Breadwinners) and Tommy Sica (Breadwinners), with Whitney Ralls (My Little Pony: Equestria Girls) serving as co-executive producer. 

Baby Shark's Big Show will air daily on the channel at 07:37 from Monday 8 December with repeats at 11:15.

Comcast Looking To Spinoff And Merge It's NBCUniversal's Division With Warner Bros. Discovery

The future of Warner Bros. Discovery is hanging in the balance, with the entertainment company’s board of directors now weighing second round bids for the company from Comcast, Paramount and Netflix.

The offers were due Monday, and all three companies submitted their revised plans.

While the specific cash amounts were not immediately clear (also complicated by the fact that only Paramount is pursuing the whole company), the second round bids included some notable tweaks. Netflix, for example, is now a mostly cash bid, after initially leaning on its stock as a key part of the deal.

And Paramount is offering all-cash, having secured debt financing from the private equity giant Apollo, as well as unknown Middle East sovereign wealth funds. The nature of the debt financing means that Ellison and Redbird will retain total control of Paramount if they are successful in their bid.

Comcast, meanwhile, is said to have proposed a deal that would see it spin out NBCUniversal into WBD in what would likely be a stock-heavy transaction.

Barring any surprise late bidders or a call by the WBD board to continue with their split, one of the three media giants is likely to emerge as the buyer of assets that include the venerable Warner Bros. film and TV studios, HBO and HBO Max, and IP that includes DC Comics, Friends, and Harry Potter.

So what happens next? WBD’s board will need to weigh the new offers, and either request a third round of bids if they feel they can extract more compelling offers, or pick a winner and start working on a binding agreement.

To split or not to split: This is in many ways the fundamental question about the future of WBD. The company was planning to split itself in two: A streaming and studio business, and a linear TV business. Paramount wants the whole thing, while Comcast and Netflix want to stay away from linear. Does the company sell itself whole (likely to Paramount) or split itself, either in a sale or a continuation of its previous process?

Regulatory hell: The Trump administration has made it clear that David Ellison and his father Larry Ellison would have an easier regulatory path, fresh off their deal for Paramount. At the same time, anonymous administration sources have made it clear to friendly voices like Fox Business Network and the New York Post’s Charlie Gasparino that Netflix and Comcast would face scrutiny. How tough will the government be? And will it dissuade the WBD board from cutting a deal with anyone that doesn’t have the last name Ellison?

Film’s future: Netflix is not in the theatrical film business, really. NBCUniversal and Paramount are. But if the WBD studios are sold, what happens to its film studio, which has had a breakout year under the leadership of Michael De Luca and Pamela Abdy? Netflix has reportedly promised continues theatrical releases, but does that mean the same sort of wide release WB has done? Or a Netflix-ified version? Would NBCU or Paramount really just double their film output? Or is the future of WB more like 20th Century Fox, as a niche with a few releases under the larger umbrella?

Sports superpower: WBD may have lost its NBA rights, but its portfolio still includes prime MLB and NHL deals, one half of the March Madness college basketball tourney (Paramount has the rest) and other rights that include the French Open and college football. When added to the portfolios of Paramount or NBCU, it could make for a compelling sports proposition, a sports media giant that would rival only ESPN in scale. But with those rights set to travel with the linear TV business, their future remains uncertain.

What about Zas? WBD CEO David Zaslav has made no secret of his love of the game. He hosts star-studded dinners at his Beverly Hills mansion (once known as Woodland, the estate of mogul Robert Evans), he has sought out meetings and held court at his U.S. Open suite with A-listers and tycoons. Would he really hang up his power suit (or power vest?) that easily? Paramount has reportedly offered him a major role, so it stands to reason that others may make similar offers as further enticement for a deal.

Mystery bidder: We know that Paramount, Comcast and Netflix have submitted bids, but that doesn’t preclude a surprise bidder entering the fray. Perhaps, say, a private equity firm backed by Middle Eastern money? Or a Japanese entertainment conglomerate with an American partner? Don’t count out any surprises.