Netflix (NFLX) is said to be actively exploring a bid for Warner Bros Discovery’s (WBD) studio and streaming business, retaining a financial advisor and gaining access to financial information.
The video streaming service has hired Moelis & Co., the investment bank that advised Skydance Media (PSKY) on its bid for Paramount Global, to evaluate a prospective offer, Reuters reported.
Netflix also reportedly has been granted access to the data room, which contains the financial details needed to make a bid.
Acquiring Warner Bros.’ studio business would give Netflix (NFLX) control of some of Hollywood’s most iconic stories and characters, including the Harry Potter and DC Comics franchises.
The development follows Netflix CEO Ted Sarandos’s telling investors last week that while the company is traditionally “more builders than buyers,” it does evaluate acquisitions based on criteria such as the size of the opportunity and whether it would strengthen the company’s entertainment offerings.
