Comcast (CMCSA) is looking to merge its NBCUniversal division with Warner Bros. Discovery (WBD), Bloomberg reported on Tuesday, citing people familiar with the company’s plans.
The report said Comcast on Monday made a renewed offer for part of Warner Bros. that would give it control of the combined entity.
WBD shareholders would receive a combination of cash and stock in the new entity, and CEO David Zaslav would have a management role in that, sources told Bloomberg.
Comcast aims to create a larger entertainment behemoth, combining the NBC TV network, the company’s film and TV studios, and its theme parks with Warner Bros., the report said, citing sources. Obtaining WBD’s HBO Max would boost NBC’s lagging Peacock streaming service.
Both companies intend to stick to their original plan of spinning off their networks portfolio into separate entities, the report said.