Netflix is closing in on a deal to buy the film and streaming business of Warner Bros Discovery. The streaming giant has offered $28 per share, leading over rivals Paramount and Comcast, according to Reuters and the New York Times. Paramount had earlier offered $24 per share for the whole Warner Bros company, including cable channels like CNN, but Warner Bros rejected it and put itself up for sale. Paramount recently raised its bid to about $27 per share but questioned the fairness of the sale process in a letter seen by CNBC. The company accused Warner Bros of favoring Netflix and called the deal "not as good" for shareholders because it would require breaking up Warner Bros. Emma Wall, chief strategist at Hargreaves Lansdown, told BBC the battle is a "drama for people who make drama." She said Netflix's bid targets only the profitable parts of Warner Bros, while Paramount's offer includes less profitable areas. She added the sale could attract attention from US competition regulators because the winner would become a global powerhouse in entertainment. Warner Bros owns big franchises like Harry Potter and Game of Thrones and runs streaming service HBO Max. Netflix, Warner Bros, and Paramount did not comment on the bids.