Paramount’s hostile bid for Warner Bros Discovery (WBD) has industry media speculating over what could signal a major power shift in US live sports broadcasting, and the impact it could have on sportsbooks.
Paramount’s offer of $30 per share, announced Monday, blows away Netflix’s prior $27.75-per-share agreement and, according to Sportshandle, “forces the negotiation public and opens the door for shareholders to decide the future.”
While the WBD board approved Netflix’s bid, a hostile bid sidesteps corporate leadership and “appeals directly to investors” with a response expected within ten working days.
As WBD controls TNT Sports with its NHL, Big XII college football, baseball, and March Madness rights, these media brands are deeply integrated into US “betting handle spikes during live games.”
impacting where bettors watch games and odds feeds.”
As such, who controls WBD could, according to reports, influence broadcast rights deals with pro leagues, “sportsbook integration and live betting features through streaming platforms,” and the flow of content “impacting where bettors watch games and odds feeds”
Industry analysts posit a Paramount-powered WBD could pursue cost synergies, “raising questions about job cuts and rights restructuring.” Netflix, however, has been voicing ideas about branching out into sports programming, including live event experimentation.
According to reports, clarity on future streaming rights is critical given the “significant in-play wagering volume.” Any uncertainty around media rights is liable to cause sharp fluctuations in related betting odds.
