Netflix Engages With Banks to Explore Bid for Warner Bros Discovery

Netflix is assessing a potential bid for Warner Bros Discovery’s studio and streaming business. The company has appointed investment bank Moelis & Co to study the opportunity, according to Reuters. Moelis earlier advised Skydance Media in its acquisition of Paramount Global. 

Netflix has been granted access to Warner Bros Discovery’s financial data room to review the necessary information for evaluation.

Scope of the Potential Deal

The discussions are focused on Warner Bros’ film and television studio and its streaming division, which includes HBO and Max. 

If pursued, the deal would give Netflix control of major franchises such as Harry Potter and DC Comics. Warner Bros’ television arm already produces several Netflix series, including You, Maid, and Running Point.

Netflix’s Position on Acquisitions

Chief Executive Ted Sarandos said last week that Netflix generally builds its business internally but reviews acquisitions when they align with its interests. He also ruled out any intention to acquire traditional cable networks like CNN, TNT, Food Network, or Animal Planet. 

“We’ve been clear in the past that we have no interest in owning legacy media networks,” Sarandos said during Netflix’s third-quarter investor presentation.

Warner Bros Discovery

Warner Bros Discovery announced that it has begun evaluating various options following multiple unsolicited offers, including one from Paramount Skydance. 

The board is considering whether to proceed with its planned restructuring, which would separate its studio, streaming, and television businesses or explore a sale of parts or all of the company.

Read More: Netflix Announces 10‑for‑1 Stock Split to Boost Accessibility!

Conclusion

Netflix, Warner Bros Discovery, and Moelis declined to comment on the matter, as per the news reports. No formal bid or negotiations have been confirmed at this stage.

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