Netflix, as part of its offer to acquire Warner Bros. Discovery's studios and streaming biz, has pledged to continue releasing WB's movies in theaters.

Paramount PSKY 1.36%, Comcast CMCSA -0.89% and Netflix NFLX -3.94% have submitted bids for Warner Bros. Discovery WBD -0.91%, owner of the storied Warner Bros. movie and television studio and HBO, acc...