Netflix taps bank to explore bid for Warner Bros Discovery

Netflix is actively exploring a bid for Warner Bros Discovery's workplace and streaming business, retaining a fiscal advisor and gaining entree to fiscal information, according to 3 sources acquainted with the matter.

The video streaming work has hired Moelis & Co, the concern slope that advised Skydance Media connected its palmy bid for Paramount Global, to measure a prospective offer, 2 of the sources said. Netflix besides has been granted entree to the information room, which contains the fiscal details needed to marque a bid, according to 2 of the sources acquainted with the matter.

Warner Bros Discovery and Moelis declined to comment. Netflix could not beryllium reached for comment.

Owning Warner Bros' workplace concern would springiness Netflix power implicit immoderate of Hollywood's astir palmy stories and characters, including the Harry Potter and DC Comics franchises. Warner Bros' prolific tv workplace besides produces galore of Netflix's hits, including archetypal bid similar "Running Point," "You" and "Maid." HBO and its companion streaming work would adhd much prestige dramas, and subscribers.

Netflix CEO Ted Sarandos told investors past week that portion the institution is traditionally "more builders than buyers," it does measure acquisitions based connected criteria specified arsenic the size of the accidental and whether it would fortify the company's amusement offerings.

Sarandos indicated Netflix would not beryllium funny successful acquiring Warner Bros Discovery's cablegram tv networks, which see CNN, TNT, Food Network and Animal Planet.

"We've been precise wide successful the past that we person nary involvement successful owning bequest media networks," Sarandos said successful the company's third-quarter capitalist video. "There is nary alteration there."

Warner Bros Discovery announced past week that it would statesman evaluating options, aft receiving a trio of unsolicited offers from Paramount Skydance to get the full company.

The institution said its committee would see whether to determination guardant with its planned split, which would abstracted the Warner Bros movie and tv studios, HBO and the companion HBO Max streaming work from its tv business, oregon prosecute a merchantability of each oregon parts of the company.

Comcast President Mike Cavanagh told investors connected Thursday the institution is evaluating media assets that would beryllium "complementary" to its existing business. He besides appeared to disregard those who are skeptical of Comcast winning regulatory approval, saying "more things are viable than possibly immoderate of the nationalist commentary that's retired there."