Is Netflix acquiring Warner Bros Discovery? Here’s what we know so far

Netflix is reportedly preparing to make one of the biggest entertainment moves of the decade. 

According to several reports, the streaming giant has hired investment bank Moelis & Co to advise on a potential bid for Warner Bros Discovery’s (WBD) studio and streaming operations.

The same firm previously advised Skydance Media on its bid for Paramount Global, giving Netflix access to key financial details about WBD.

As per the reports, Netflix is “looking into” the possibility of acquiring parts of WBD. 

The rumours gained traction shortly after WBD rejected a second acquisition offer from Paramount and announced a “strategic review” amid “unsolicited interest” from multiple parties.

Interestingly, Netflix executives have previously dismissed the idea of major media mergers.

Netflix’s Co-CEO Greg Peters said during an earnings call that building long-term creative strength “comes from developing capabilities in the trenches,” not by simply “buying another company.”

Co-CEO Ted Sarandos echoed that sentiment, noting Netflix has “no interest in owning legacy media networks.”

Despite the public denials, industry insiders believe Netflix’s move could signal a deeper push into Hollywood’s traditional ecosystem.

The company has also recently expanded into video podcasts through a new partnership with Spotify, signaling its ambition to dominate every corner of the entertainment world.