Netflix Reports Plans to Acquire Warner Bros Discovery Studios, Streaming

Netflix is exploring a potential acquisition of Warner Bros. Discovery's studio and streaming businesses, focusing on iconic franchises like Harry Potter, DC Comics, and HBO hits, while excluding the cable channels such as CNN. The company has enlisted investment bank Moelis & Co. to evaluate the bid, aligning with its strategy to strengthen streaming content over traditional cable assets. Meanwhile, Comcast is also showing interest in Warner Bros.' studio and HBO Max streaming services but maintains a cautious approach, setting a "high bar" for any acquisition and emphasizing strategic fit rather than pursuing deals for their own sake. Both companies are reacting to the broader industry shift away from cable towards streaming, with Warner Bros. Discovery's planned split of its cable channels prompting this competitive reshuffling. This potential sale and bidding war could significantly reshape Hollywood's power dynamics and streaming landscape, influencing where consumers access major entertainment brands. Overall, the negotiations underscore the ongoing transformation in media, as legacy studios adapt to the dominance of digital streaming platforms.