Is Netflix Planning to Acquire Select Warner Bros. Assets?

Netflix is reportedly weighing a potential acquisition of Warner Bros. Discovery’s studio and streaming assets, marking what could be one of the entertainment industry's most significant shake-ups in recent years. Sources close to the negotiations say the streaming behemoth has enlisted Moelis & Co., the firm that steered Skydance Media's successful Paramount Global bid, to run the numbers on a possible offer.

According to New York Post, Netflix has been looking inside Warner Bros. Discovery's decision to set up a data room, an action that typically flags the onset of exploratory talks, but has been met with a blanket of silence; neither of the two companies nor Moelis has offered any comment on the reports.

Netflix keeps its distance as Warner Bros. Discovery weighs major studio shake-up

Netflix's possible bid for Warner Bros.' studio operations could become one of the upheavals the entertainment world has seen in years. Seizing the studio would bring franchises like Harry Potter and the DC Comics universe into Netflix's fold alongside the TV division that produced its own hits, such as You and Running Point.

The deal would also hand Netflix a line to premium storytelling via HBO's library and streaming arm. Still, Ted Sarandos, Netflix's chief, made clear that the streaming giant isn't eager to pursue acquisitions, describing itself as "more of a builder than a buyer." He said (via New York Post):

"We've been very clear in the past that we have no interest in owning legacy media networks... There is no change there."

He underscored that legacy cable outlets like CNN, TNT, or Animal Planet aren't even on the radar. Meanwhile, Warner Bros. Discovery's board is swimming in a handful of pitches, including a bid from Paramount Skydance, as its decision‑makers haggle over whether to push with the slated corporate split or to weigh a full or partial sale.

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