Netflix Explores Bid for Warner Bros. Discovery as Streaming Wars Intensify
Netflix Inc. has rekindled interest in acquiring Warner Bros. Discovery, engaging Moelis & Co. as financial adviser to evaluate a potential offer. The MOVE sent Warner shares up 4% in after-hours trading, while Netflix gained 3% amid news of its 10-for-1 stock split.
Warner Bros. confirmed it's reviewing strategic options including a sale of its studio and streaming assets, which include the coveted HBO Max platform and DC Comics franchise. Competing bids have emerged from Comcast and Paramount Skydance Corp., though previous offers were rejected as undervalued.
A successful acquisition WOULD deliver Netflix control of premium intellectual property including Game of Thrones and Harry Potter, significantly bolstering its content arsenal in the global streaming battle. The renewed bidding activity underscores the enduring value of Warner's media library in an increasingly fragmented entertainment landscape.
