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Netflix taps bank to explore bid for Warner Bros Discovery
- Netflix has retained Moelis & Co to evaluate a bid for Warner Bros Discovery's studio and streaming assets, gaining access to its data room, according to sources.
- Netflix CEO Ted Sarandos said last week the company is "more builders than buyers" and evaluates deals by size and fit, adding `We've been very clear in the past that we have no interest in owning legacy media networks`.
- Warner Bros Discovery announced last week it received unsolicited offers from Paramount and Skydance, and its board will consider splitting the studios and HBO Max from its television business.
- Warner Bros Discovery spokespeople and Moelis declined to comment, Netflix could not be reached for comment, and Comcast President Mike Cavanagh said on Thursday the company is evaluating complementary media assets.
- Advisory pedigree and content overlap shape the deal's strategic appeal as Moelis & Co advised Skydance Media on a successful Paramount Global bid, and Warner Bros' studio produces Netflix hits like "Running Point".
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Netflix has hired an investment bank to prepare a proposal. Interest in brands and the crux of free-to-air channels
·Italy
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Netflix May Buy Warner Bros
Instead of just making movies on its own, Netflix Inc. (NASDAQ: NFLX) may buy Warner Bros. Discovery Inc. (NASDAQ: WBD). Warner Bros. is one of the oldest and most storied studios in the world. Netflix would get streaming services that would add to its subscriber count considerably. 24/7 Wall St. Key Points: Netflix Inc. (NASDAQ: NFLX) reportedly is considering acquiring Warner Bros. Discovery Inc. (NASDAQ: WBD). Netflix would add to its subs…
·New York, United States
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Earthquake in the world of streaming: Netflix would consider hitting a big blow by buying Warner Bros Discovery.
·Paris, France
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Coverage Details
Total News Sources97
Leaning Left9Leaning Right11Center23Last UpdatedBias Distribution53% Center
Bias Distribution
- 53% of the sources are Center
53% Center
L 21%
C 53%
R 26%
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