Netflix is actively exploring the possibility of acquiring Warner Bros. Discovery's studio and streaming business, having hired investment bank Moelis & Co to evaluate a potential deal and gaining access to the company's financial information, three sources familiar with the matter told Reuters, UNN reports.
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Owning Warner Bros.' studio business would give Netflix control over the Harry Potter and DC Comics franchises, as well as TV projects already on the platform, including "Running Point," "You," and "Maid." HBO and HBO Max would add prestigious dramas and new subscribers to the company.
David Ellison's Paramount takes lead in race to buy Warner Bros. Discovery – Reuters23.10.25, 21:18
Netflix CEO Ted Sarandos explained the company's position.
We have made it clear that we are not interested in owning legacy media networks. There are no changes here
He added that Netflix evaluates potential acquisitions based on their scale and ability to enhance the company's entertainment offerings, but is not interested in Warner Bros. Discovery's cable networks such as CNN, TNT, Food Network, and Animal Planet.
Earlier, Warner Bros. Discovery announced that it would begin evaluating options after receiving unsolicited offers from Paramount Skydance to buy the entire company. The company's board of directors will consider whether to proceed with the planned separation of its studio and television businesses, or to sell the entire company or parts of it.
Warner Bros. Discovery announced it is up for sale – Media21.10.25, 18:53