Ross Gerber, co-founder and CEO of Gerber Kawasaki Wealth and Investment Management, reacts to the Wall Street Journal report that Paramount, Comcast and Netflix are preparing bids for Warner Bros. He speaks on "Bloomberg The Close."

Hollywood

Paramount is reportedly preparing to make a bid for the entire Warner Bros company, rather than just select assets. The move comes amid widespread optimism in Hollywood about Paramount Skydance's leadership and financial resources, but also significant industry skepticism due to Warner Bros' substantial debt.

Industry competitors such as Comcast and Netflix are expected to complicate the acquisition process, making it more expensive for Paramount. Many in Hollywood believe that if Paramount Skydance succeeds, it could become a major competitor on par with Disney, prompting rivals to drive up the cost of any potential deal.

Paramount plans to bid for all of Warner Bros: WSJ

The idea that Paramount potentially going after all of Warner Brothers not going after it in parts here. I mean what's your reaction. Well it's funny because I just spent a lot of time with a lot of people who are pretty up there in Hollywood and trying to get a sense of where the future goes. And you know they were trying to get a sense for me of where technology is going and how this will affect their businesses. And what I heard from everybody is everybody is very bullish on Paramount Skydance and what Ellison is doing. And they have sort of an unlimited pockets to do stuff. So when he started looking at Warner Brothers he wanted just the studios. But Zaslav has a ton of debt and he can't just sell the studios off which is the most valuable part. Be stuck with the debt in the cable channel. So so he wants to sell the whole thing. But it's got a ton of debt. It's it's it's really expensive to buy Warner Brothers as a whole. And so what I think Comcast and Netflix are doing now is going to make it really hard for Paramount to do this and very expensive for them because I don't think they want Warner Brothers at all or they would have tried to buy them earlier. So you know basically Ellison's got himself into a pickle because they know if they let him have Warner Brothers too cheap then it's a real competitor to them. A lot of people in Hollywood think that Ellison and this Paramount Skydance is going to be like the next Disney you know. And and so people are scared of him and they're going to make it very expensive for him. And that's why I bought some Paramount and then I just sold it because I don't want to be in this bidding more stuff for assets with tons of debt in a very difficult business right now. And I think Netflix is the play. And that's one of our top holdings.

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Breakdown