The Peacock and The Batman

If Warner Brothers Discovery (WBD) is to sell itself (it lacks global distribution capability for its content) as the rumor mill turns, I do believe that Comcast (CMCSA) is the natural buyer given pre-existing relationships between Comcast’s Roberts family (John Malone sold his TCI to then AT&T. The latter’s cable assets are now owned by Comcast) and WBD’s Chairman John Malone. More importantly, Comcast is thin on content despite the fact that it owns NBC Universal / Peacock. Conversely, Comcast has the global distribution capability that Warner Bros lacks.

Given Malone’s penchant for tax efficient deals, I suspect that this will be an all-stock transaction between CMCSA and WBD.

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