Netflix is exploring a potential bid to acquire Warner Bros Discovery’s studio and streaming assets, according to multiple sources familiar with the talks. The streaming giant has hired investment bank Moelis & Co — the same firm behind Skydance’s successful Paramount deal — and has been granted access to financial data to evaluate an offer.
The move could give Netflix control of iconic franchises like Harry Potter and DC Comics, plus HBO’s award-winning programming. Warner Bros TV division already produces major Netflix hits including You, Maid and Running Point, News.Az reports, citing Reuters.
CEO Ted Sarandos recently told investors Netflix is “more builders than buyers,” but remains open to deals that strengthen its content library. He also ruled out interest in Warner Bros Discovery’s traditional cable networks such as CNN, TNT and Food Network, calling them “legacy media.”
Warner Bros Discovery is reviewing several unsolicited takeover offers while also weighing a potential breakup separating its studios and HBO Max from its TV networks. Comcast has also signaled interest in acquiring media assets, saying regulatory concerns may be overstated.