Netflix weighs Warner Bros Discovery studio purchase

Netflix is weighing a bid for Warner Bros Discovery’s studio and streaming assets, hiring Moelis & Co to advise and accessing company financials, Reuters reports. The move would expand Netflix’s control over major franchises while steering clear of traditional TV networks.

Sources say Netflix is reviewing Warner Bros Discovery’s entertainment arm, exploring whether to make a formal offer for its film, TV and streaming divisions. The potential deal would cover the Warner Bros studio and HBO/HBO Max, but exclude cable networks like CNN and TNT.

If completed, the acquisition would give Netflix access to global franchises including Harry Potter and DC Comics, along with a large catalogue of premium series. The effort comes as Warner Bros Discovery considers strategic options after receiving unsolicited bids and weighing a split between content and legacy TV operations.

Comcast has also signaled interest in media assets despite regulatory risk, adding to pressure in a market where scale and exclusive content are increasingly crucial. Neither company has publicly commented on the talks.