A Reuters report suggests Netflix could be planning a bid for WBD.
According to an article published by Reuters and citing three sources said to be “familiar with the matter”, the article said Netflix has retained the services of Moelis & Co., the investment bank that advised Skydance Media over its bid for Paramount Global. Two of the sources also said the streaming company has been granted access to the data room, containing the financial details needed to make a bid.
Both Moelis and Warner Bros. Discovery (WBD) declined to comment on the story, while Netflix could not be reached.
Last week, Netflix CEO Ted Sarandos told investors that despite the company being “more builders than buyers”, it does evaluate possible acquisitions based on the size of the opportunity and its potential to strengthen operations. Speaking in Netflix’s Q3 investor video, Sarandos said the company had no interest in acquiring Warner Bros Discovery’s cable television networks, “We’ve been very clear in the past that we have no interest in owning legacy media networks. There is no change there.”
Following three unsolicited offers from Paramount Skydance, Netflix announced it would be evaluating options. The company also said its board would continue whether to continue with its planned split, separating the Warner Bros film and television studios, HBO and the HBO Max streaming service from its television business, or pursue a sale.
