Netflix Explores Bid for Warner Bros Discovery Studio Business
- tech360.tv
- 3 hours ago
- 2 min read
Netflix is actively exploring a bid for Warner Bros Discovery's studio and streaming business. The video streaming service has retained Moelis & Co, a financial advisor, and gained access to financial information for a prospective offer.
Moelis & Co, an investment bank, previously advised Skydance Media on its successful bid for Paramount Global. Netflix has been granted access to the data room, which contains financial details necessary to make a bid.
Owning Warner Bros' studio business would give Netflix control over some of Hollywood's most successful stories and characters, including the Harry Potter and DC Comics franchises. Warner Bros' television studio also produces many Netflix hits, such as "Running Point," "You," and "Maid."
HBO and its companion streaming service would add more prestige dramas and subscribers to Netflix's offerings. Netflix CEO Ted Sarandos told investors his company is traditionally "more builders than buyers."
Sarandos stated that Netflix evaluates acquisitions based on criteria such as the size of the opportunity and whether it would strengthen the company's entertainment offerings. He indicated no interest in acquiring Warner Bros Discovery's cable television networks.
These networks include CNN, TNT, Food Network, and Animal Planet. Sarandos affirmed, "We've been very clear in the past that we have no interest in owning legacy media networks."
Warner Bros Discovery is evaluating options after receiving unsolicited offers from Paramount Skydance to acquire the entire company. Its board will consider moving forward with a planned split or pursuing a sale of all or parts of the organisation.
The planned split would separate the Warner Bros film and television studios, HBO, and the companion HBO Max streaming service from its television business. Comcast President Mike Cavanagh told investors his company is evaluating "complementary" media assets.
Cavanagh also appeared to dismiss those sceptical of Comcast winning regulatory approval, stating, "more things are viable than maybe some of the public commentary that's out there."
Netflix is exploring an acquisition of Warner Bros Discovery's studio and streaming business.
Netflix has retained Moelis & Co as a financial advisor and gained access to Warner Bros Discovery's data room.
Potential assets include the Harry Potter and DC Comics franchises, as well as HBO and HBO Max.
Source: REUTERS