Business
Paramount, Comcast, Netflix submit bids for Warner Bros. Discovery
Paramount Skydance, Comcast and Netflix formally submitted takeover offers for Warner Bros. Discovery this week ahead of a deadline for first-round offers, according to people familiar with the matter.
Comcast, the parent company of NBCUniversal, bid solely for the film and streaming assets, which consists of the Warner Bros. studio and HBO Max, the people said. The offer would see NBCUniversal become the parent of the WBD assets, one of the people said, and would not involve a spinout of NBCUniversal as some in the industry had speculated.
Comcast is currently in the process of spinning out its portfolio of cable networks, which includes CNBC, but will retain NBCUniversal. As of January, that business unit will consist only of the broadcast network NBC, streaming service Peacock, Universal film studio and theme parks.
Comcast’s offer included a clause that would allow WBD to spin out its own cable networks, including CNN and TNT Sports, at any point before the proposed acquisition closes, the person said.
Comcast President and soon-to-be co-CEO Mike Cavanagh recently telegraphed in an earnings call that an acquisition of studio and streaming assets would be complementary to NBCUniversal. Cavanagh also said the company believes a deal would be “viable” in the context of the current regulatory environment.
Like Comcast, Netflix, also bid solely for the film and streaming assets, according to the people familiar.
Meanwhile, Paramount Skydance once again submitted, its fourth to date. In recent days, Paramount Skydance and its advisors had been weighing whether to submit a higher bid than its previous $23.50-per-share offer that WBD rejected, some of the people said.
Netflix’s offer was expected to be “disciplined” with its bid, one of the people said. Details on the size of all three offers weren’t immediately clear.
Warner Bros. Discovery alerted the bidders that it had received the offers and would be back in touch with them soon, one of the people said.
Representatives for Warner Bros. Discovery, Paramount, Netflix and Comcast declined to comment.
Warner Bros. Discovery is aiming to have its sale process wrapped up by mid- to late-December, CNBC previously reported. Another round of bids is expected to occur in the coming weeks, some of the people said.
Last month Warner Bros. Discovery said it was expanding a strategic review of its business to include a potential sale — even as it carries on with a plan to split into two separate entities: Warner Bros., made up of the film studio and streaming platform, and Discovery Global, which would include the company’s pay TV networks.
While Warner Bros. Discovery’s split has been underway, takeover interest from the newly merged Paramount Skydance led WBD CEO David Zaslav and top brass to open up to a formal sale process.
If an offer for the studio and streaming assets were to be successful, Discovery Global would move forward with its spinout and current WBD CFO Gunnar Wiedenfels would become CEO.
The Warner Bros. logo is displayed on a water tower at Warner Bros. Studio on September 12, 2025 in Burbank, California.
Mario Tama | Getty Images
Paramount has already sent multiple letters to WBD’s board explaining why its offer of $23.50 per share for all of WBD’s assets is in the best interest of shareholders and the company itself.
WBD’s stock gained 1% Friday to close at $23.19 per share. The company’s share price has increased more than 20% since announcing it was up for sale in October.
Paramount CEO David Ellison recently met with Saudi-backed sovereign funds about financing a potential transaction, although the conversations were only preliminary and Ellison and his father, Oracle co-founder Larry Ellison, are prepared to fully finance a transaction, people familiar with the matter said.
While Paramount is interested in a deal for the entirety of WBD, the formal sale process has opened up the possibility of a buyer for only part of the legacy media company.
— CNBC’s David Faber contributed to this report.
Disclosure: Comcast is the parent company of NBCUniversal, which owns CNBC. Versant would become the new parent company of CNBC upon Comcast’s planned spinoff of Versant.
Business
Daily Mail owner agrees to buy Daily Telegraph for £500m
Getty ImagesThe publisher of the Daily Mail has agreed to buy the Daily and Sunday Telegraph for £500m.
The Daily Mail and General Trust (DMGT) said it had entered a period of discussion with RedBird IMI, which is a joint venture between the United Arab Emirates and the US private equity firm RedBird Capital Partners.
RedBird Capital’s own bid for control of the Telegraph collapsed last week.
The deal needs to be signed off by Culture Secretary Lisa Nandy. A spokesperson said Nandy would “review any new buyer acquiring the Telegraph in line with the public interest and foreign state influence media mergers regimes”.
DMGT and RedBird IMI have said they expect the deal to be finalised “quickly”.
DMGT chairman Lord Rothermere said he had “long admired the Daily Telegraph” and the deal would give “much-needed certainty and confidence” to its employees.
He said: “The Daily Telegraph is Britain’s largest and best quality broadsheet newspaper and I have grown up respecting it. It has a remarkable history and has played a vital role in shaping Britain’s national debate over many decades.”
He added: “Chris Evans is an excellent editor and we intend to give him the resources to invest in the newsroom. Under our ownership, the Daily Telegraph will become a global brand, just as the Daily Mail has.”
The purchase would see the Telegraph become part of DMGT’s portfolio of media organisations, which includes the i Paper, Metro and New Scientist, along with the Daily and Sunday Mail papers.
The group said the Telegraph would remain editorially independent from DMGT’s other titles.
It also said its case for having the deal approved was “compelling” and would comply with UK regulations, as there would be no foreign state investment or capital in the funding structure.
A spokesman for RedBird IMI said: “DMGT and RedBird IMI have worked swiftly to reach the agreement announced today, which will shortly be submitted to the secretary of state.”
RedBird Capital pulled out of a deal to buy the Telegraph last week.
It had a previous attempt to buy the group rebuffed by politicians as it was majority-funded by Abu Dhabi’s IMI group – which is owned in turn by the Abu Dhabi royal family.
A law change meant that foreign sovereign wealth funds could take a maximum stake of 15% in newspapers or periodicals.
Its more recent bid complied with that rule, but it was understood that the government intended to submit the deal to regulatory review.
Sources close to RedBird insisted that they were confident that the bid would have passed a government review process, but cited negative articles toward the bid from the current Telegraph newsroom as a factor in shelving their interest.
RedBird founder Gerry Cardinale had planned to expand the Telegraph’s reach and subscriber base in the US, believing there to be a gap in the market.
Among other investments, RedBird owns the Italian football team AC Milan.
The Telegraph has been in limbo for over two years, when the RedBird IMI consortium paid off the debts of the Telegraph’s previous owners, the Barclay family, hoping to take eventual ownership of the newspapers.
Business
Trade outlook: India’s exports hold steady amid Donald Trump tariffs; new markets offset US slowdown – The Times of India
India’s export performance has remained steady even as global markets face volatility, according to SBI Research, which shared its assessment. As per news agency ANI, the report states that merchandise exports between April and September in FY26 touched $220 billion, a 2.9 per cent rise from $214 billion in the same period last year. Exports to the United States also increased by 13 per cent to $45 billion, although shipments in September dipped nearly 12 per cent year-on-year.The US continues to be a key market, but its share in India’s total exports has fallen since July 2025, reaching 15 per cent in September. SBI Research highlights mixed sectoral trends. The US share in India’s marine product exports declined from 20 per cent in FY25 to 15 per cent in September, and its share in precious stones fell sharply from 37 per cent to 6 per cent. However, both marine products and ready-made cotton garments still registered growth during the April–September period.At the same time, as per ANI, India’s export basket has become more geographically diverse. Countries including the UAE, China, Vietnam, Japan, Hong Kong, Bangladesh, Sri Lanka and Nigeria saw higher shares across several product groups. SBI Research suggests that some of this may indicate indirect routing of Indian goods, noting that Australia’s share in US imports of precious stones rose from 2 per cent to 9 per cent, while Hong Kong’s share increased from 1 per cent to 2 per cent.On the trade policy front, India is grappling with higher US tariffs under the Trump administration, which have hit textiles, jewellery and seafood — particularly shrimp. To support exporters, the government has approved Rs 45,060 crore in assistance, including Rs 20,000 crore in credit guarantees.The rupee also faced pressure, slipping to 89.49 against the dollar on Friday amid global financial turbulence. According to ANI, the Reserve Bank of India reiterated that it does not defend any fixed exchange rate, and analysts see the decline as a temporary adjustment.India’s current account deficit narrowed to 0.2 per cent of GDP in Q1 FY26, improving from 0.9 per cent a year earlier, supported by services exports and remittances. SBI Research expects the deficit to widen slightly in the next two quarters before turning positive by fiscal year-end, projecting a full-year deficit of 1.0–1.3 per cent of GDP and a balance-of-payments gap of up to $10 billion.
Business
Toothbrush packs to go to ‘most vulnerable’ in North Northants
Toothbrush and toothpaste packs worth a combined £20,000 are to be given to foodbanks and other organisations for distribution to vulnerable people.
North Northamptonshire Council said the funding from Northamptonshire NHS Integrated Care Board would help people “who need it the most” fight tooth decay.
Martin Langford, Corby Foodbank’s manager, said the packs would “make a real difference to how people look and feel”.
Brian Benneyworth, the Reform UK council’s executive member for health and leisure, said: “These toothbrushing packs are a simple but powerful way to help those who are most vulnerable, providing not just the tools but the dignity of self-care.”
Mr Langford said: “Access to basic hygiene items, such as toothbrush packs, is often underestimated but they make a real difference to how people look and feel.
“It strengthens our ability to reach those most in need and ensures we can continue making a positive impact within the community.”
Jane Bethea, director of public health, communities and leisure at the council, said: “Poor oral health is a major public health concern and can have a negative impact on our overall health and wellbeing and affect what we eat, how we communicate and our self-confidence.”
Guidelines recommend that people brush their teeth twice at day. Poor dental hygiene can led to tooth decay and gum infections, which can lead to tooth loss and gum disease.
Mr Benneyworth said: “Under current financial pressures, due to the cost of living crisis, some households are having to make very difficult choices about what they can and cannot buy.
“In these situations, items such as new toothbrushes and toothpaste could be seen as less important than essentials such food and heating.”
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