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Posted in: Movies, Netflix, TV | Tagged: netflix, warner bros discovery
Netflix Making Moves for Possible Warner Bros Discovery Bid: Report
Netflix is reportedly making moves for a possible Warner Bros. Discovery bid, and they have a very interesting financial advisor assisting.
Article Summary
- Netflix is reportedly considering a bid for Warner Bros. Discovery, with major implications for streaming.
- Co-CEOs Greg Peters and Ted Sarandos have downplayed direct interest but kept options open for expansion.
- Netflix has reportedly hired Moelis & Co. as a financial advisor to assess a potential Warner Bros. Discovery acquisition.
- Competition is picking up, with Paramount and Comcast/NBCUniversal also reportedly eyeing Warner Bros. Discovery assets.
"You have to do that by the hard work of developing those capabilities in the trenches day to day. You don't get there simply by buying another company that is also still developing those same capabilities, Netflix co-CEO Greg Peters shared during the streaming service's most recent earnings call, when asked about reports that Netflix was eyeing making a bid for at least part of Warner Bros. Discovery. "We've been very clear in the past that we have no interest in owning legacy media networks, so there is no change there," co-CEO Ted Sarandos added about the rumblings. Well, that pretty much settles it. Netflix is interested in Warner Bros. Discovery (sorry, Paramount Skydance Corp. CEO David Ellison).
Earlier this month, Warner Bros. Discovery (WBD) CEO David Zaslav announced that the company had officially begun fielding offers from interested parties about acquiring the company (or chunks of it), while also making it clear that fielding offers did not necessarily mean a deal would be finalized. Ellison has reportedly made at least three offers for the entire company, all of which have been rejected. The rumor mill also has Netflix and Comcast/NBCUniversal also interested, with the latter playing pretty coy about its future plans. However, with Netflix, it came down to realizing that when the streamer says it's not interested in something, it's probably very interested in something else.
Look no further than how the streamer has adjusted its release policy from just binge-dropping seasons, and how it has tackled livestreaming events and streaming professional sports – two areas it had previously denied interest in before making its moves. Deadline Hollywood and Reuters are reporting that Netflix has retained financial advisory firm Moelis & Co. to help the streamer consider its options for a potential bid for Warner Bros. Discovery's streaming and studio efforts. Although Netflix declined to comment on the report, it's worth noting that Moelis & Co. was the same company that worked with Ellison's Skydance to finalize the Paramount deal earlier this year.
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