Netflix Inc (NASDAQ:NFLX) shares are trading lower on Thursday. According to the reports, the streaming service company is the primary bidder for the purchase of Warner Bros Discovery (NASDAQ:WBD)‘s assets which has raised the investors’ concerns regarding the financial consequences of this deal.
What should traders watch with NFLX?
What To Know: CNBC reported that Netflix was the foremost bidder for Warner Bros Discovery on Thursday morning. Sources say that Warner Bros Discovery anticipates to declare a winner as soon as next week.
First offers were sent out in the middle of November, but Paramount has been in the race for the whole Warner Bros Discovery which encompasses HBO Max, the movie studio Warner Bros and a selection of cable TV networks like TNT and TBS, since September. Warner Bros Discovery turned down three bids from Paramount, the last one being for $23.50 per share, and then, to attract other buyers, went for a formal sale process.
The potential creation of a joint offer would mean that by obtaining bundled HBO and Netflix content, consumers may pay less. However, reports claim that Netflix will not actually add significant subscribers due to this takeover because the majority of HBO’s subscribers are already Netflix subscribers.
NFLX Price Action: Netflix shares are trading down 0.56% at $103.37 at the time of publication on Thursday, according to Benzinga Pro. They’re sitting 23.1% below their 52-week high.
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