Netflix hires investment bank to explore a bid for Warner Bros.

Netflix hires investment bank to explore a bid for Warner Bros.

Netflix is actively exploring a bid for Warner Bros Discovery’s studio and streaming enterprise, retaining a monetary advisor and gaining entry to monetary data, according to three sources aware of the matter.

The video streaming service has employed Moelis & Co, the investment bank that suggested Skydance Media on its profitable bid for Paramount Global, to consider a potential provide, two of the sources said. Netflix also has been granted entry to the data room, which accommodates the monetary particulars wanted to make a bid, according to two of the sources aware of the matter.

Warner Bros Discovery and Moelis declined to remark. Netflix couldn’t be reached for remark.

Netflix has reportedly employed an investment bank because it prepares to make a bid for Warner Bros. Discovery. Getty Images

Owning Warner Bros’ studio enterprise would give Netflix management over some of Hollywood’s most profitable tales and characters, including the Harry Potter and DC Comics franchises. Warner Bros’ prolific tv studio also produces many of Netflix’s hits, including unique sequence like “Running Point,” “You” and “Maid.” HBO and its companion streaming service would add more status dramas, and subscribers.

Netflix CEO Ted Sarandos told traders last week that while the company is historically “more builders than buyers,” it does consider acquisitions based on standards such as the dimension of the alternative and whether or not it might strengthen the company’s leisure choices.

Sarandos indicated Netflix wouldn’t be involved in buying Warner Bros Discovery’s cable tv networks, which embody TGB, TNT, Food Network and Animal Planet.

“We’ve been very clear in the past that we have no interest in owning legacy media networks,” Sarandos said in the company’s third-quarter investor video. “There is no change there.”

Warner Bros Discovery announced last week that it might start evaluating choices, after receiving a trio of unsolicited provides from Paramount Skydance to purchase the total company.

The company said its board would think about whether or not to transfer ahead with its deliberate break up, which might separate the Warner Bros movie and tv studios, HBO and the companion HBO Max streaming service from its tv enterprise, or pursue a sale of all or elements of the company.

Comcast President Mike Cavanagh told traders on Thursday the company is evaluating media property that could be “complementary” to its current enterprise. He also appeared to dismiss those who’re skeptical of Comcast profitable regulatory approval, saying “more things are viable than maybe some of the public commentary that’s out there.”

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