All articles tagged with #bidding war
After a 16-minute standing ovation at Cannes, Los Javis’ La Bola Negra sparked a multi-studio bidding war for U.S. rights, with A24, Mubi, and Netflix among bidders; the queer epic spanning 85 years of Spanish history, inspired by Lorca and featuring a cameo by Penélope Cruz, is produced by Suma Content Films with Goodfellas handling international sales and a Spain release set for Oct. 2.
At Cannes 2026, Jordan Firstman’s Club Kid sold for $17 million in a bidding war, with A24 winning ahead of rivals including Mubi, Focus Features, Searchlight, and Netflix. The film—written, directed by, and starring Firstman—follows a hedonistic party boy who discovers he has a ten-year-old son and must grow up, with Diego Calva and Cara Delevingne co-starring. The deal marks the festival’s first major sale amid a slate lean on Hollywood titles, heightening buzz for Firstman’s next project.
Jordan Firstman’s feature debut Club Kid premiered in Cannes’ Un Certain Regard, sparking a high-stakes sales push with offers in the high seven figures (potentially eight figures) from buyers including Mubi, Focus Features, Searchlight Pictures, A24 and Netflix. UTA leads the international sales with Charades assisting; Clockwork bowed out and Black Bear has shown interest. The dramedy about a New York City club promoter who must reckon with the son he never knew has drawn praise and a six-minute standing ovation, signaling Cannes’ first breakout hit of 2026.
David Zaslav orchestrated a high-stakes auction that ended with Paramount agreeing to acquire Warner Bros. Discovery for about $111 billion ($31 per share) after Netflix dropped out, aided by Larry Ellison-backed backstops. The deal would unite Warner Bros. and Paramount Pictures with CBS News and CNN, boosting Zaslav’s wealth and signaling a major consolidation in the media landscape.
Netflix withdraws from the Warner Bros. bidding war, saying the deal isn’t financially attractive at Paramount Skydance’s higher offer; Warner Bros. Discovery’s board is expected to adopt Paramount’s superior proposal (around $31 per share with incentives), making Paramount the likely winner and triggering Paramount’s payment of Warner Bros.’ $2.8 billion termination fee to Netflix. Netflix says it will continue investing about $20 billion in content and resume share buybacks, and its stock rose after hours.
Warner Bros. Discovery said Paramount Skydance’s revised bid to buy the entire company (including its cable networks) could be preferable to Netflix’s deal, lifting the offer to $31 per share (~$77 billion) with a $7 billion reverse termination fee and reimbursement of costs if regulators block Netflix’s agreement. The board has not yet chosen a winner, Netflix would have four days to respond if WBD shifts bids, and the bidding war—fired up after Paramount’s unsolicited late-2025 offer—continues amid antitrust scrutiny. Analysts say roughly $34 a share could end the contest, and Paramount has welcomed the latest development while regulators’ approval remains required.
Warner Bros. Discovery said Paramount Skydance’s revised offer to buy the entire company for about $77 billion ($31 per share) — including a $7 billion reverse termination fee and reimbursement of potential Netflix-related costs — could be preferable to Netflix’s studio-and-streaming deal. The Warner board has not decided a winner; Netflix would have four days to counter if Paramount’s bid is favored. Regulatory approval is still required, and some analysts say bids near $34 a share could end the bidding.
Warner Bros Discovery is weighing re-engaging with Paramount Skydance as Paramount’s cash bid, plus refinancing support and a ticking fee, threatens to spark a fresh bidding war with Netflix; the decision comes amid shareholder pressure and a looming Feb. 20 deadline, with Netflix's all-cash offer and an April shareholder vote on the deal.
A high-stakes bidding war has erupted for Megan Park’s Die Alive, a spec script she wrote and will direct, with LuckyChap attached to produce and FilmNation financing already in place; Warner Bros., Sony, Universal and major streamers including Apple, Amazon and Netflix are among the bidders for a project described as a funny drama about a woman who discovers her older boyfriend has a wife and kids, with a summer/fall 2026 shoot planned.
A24 won a days-long bidding war at Sundance to acquire the next Olivia Wilde film.
At Sundance, Olivia Wilde’s sex comedy The Invite drew a standing ovation and sparked a high-stakes bidding war among major indie buyers (A24, Neon, Focus Features, and Netflix among frontrunners), following its Saturday premiere. The film stars Wilde alongside Seth Rogen, Ed Norton and Penélope Cruz; it’s a remake of Sentimental, scripted by Rashida Jones and Will McCormack, and shot in Los Angeles, with theatrical release plans still to be determined.
Paramount's amended takeover offer for Warner Bros. Discovery was deemed insufficient by a major WBD shareholder, who called for Paramount to increase its incentives to compete with Netflix in the bidding war. Despite the new proposal including a $40.4 billion financing guarantee and increased breakup fee, WBD advised shareholders to hold off on action, as the core financial terms remained unchanged from a previous rejected bid.
A record-breaking $463.6 billion in mergers and acquisitions is driving a busy holiday season for dealmakers worldwide, with many working through Christmas to close major deals like Warner Bros' bidding war, amid a broader, aggressive M&A market fueled by geopolitical uncertainties and less antitrust scrutiny.
Warner Bros. Discovery's potential sale is shifting from a bidding war to a likely win for Netflix, as its offer surpasses Paramount's, though regulatory and valuation concerns remain, and the deal's structure complicates the final valuation for shareholders.
Warner Bros. Discovery's board prefers Netflix's mostly cash bid over competitors Paramount and Comcast, citing better stewardship and good chemistry between executives, though regulatory hurdles remain for any merger involving Netflix and Warner Bros. HBO Max.