Could Netflix Acquire Warner Bros. Discovery and Become Home to Iconic Franchises?
Could Netflix potentially acquire Warner Bros. Discovery and gain ownership of iconic franchises like Superman, Batman, Harry Potter, and Barbie? According to a recent report from Reuters, Netflix is actively exploring the possibility of making an acquisition bid for Warner Bros. Discovery. The streaming giant has enlisted the help of investment bank Moelis & Co. to put together a potential offer. Moelis was previously involved in David Ellison’s Skydance Media takeover of Paramount Global.
Warner Bros. Discovery’s board has confirmed that they have received interest from multiple parties regarding a potential merger or acquisition. Netflix has been granted access to Warner Bros. Discovery’s financials as part of the evaluation process for a potential bid. It remains uncertain if Netflix’s offer would include Warner Bros. Discovery’s HBO Max business.
Representatives for Netflix, Warner Bros. Discovery, and Moelis & Co. have chosen not to comment on the matter at this time.
In a recent earnings interview, Netflix co-CEO Ted Sarandos stated that the company is not interested in owning legacy media networks. This suggests that Netflix may be interested in specific assets of Warner Bros. Discovery rather than the entire company. Sarandos emphasized that Netflix can afford to be selective in its merger and acquisition targets.
Paramount Skydance’s Ellison has also expressed interest in acquiring Warner Bros. Discovery, with multiple bids being rejected by WBD as undervalued. Comcast is another potential suitor for Warner Bros. Discovery, focusing primarily on the studios and streaming services aspect of the company.
Warner Bros.’s film studios have seen success with box office hits like “Superman,” “Minecraft Movie,” “Sinners,” and “Final Destination Bloodlines” in 2025. On the television side, Warner Bros. Television has produced popular shows like “Running Point,” “You,” and “Maid,” with collaborations with Netflix on some projects.
As discussions continue regarding the potential acquisition of Warner Bros. Discovery, the future landscape of the entertainment industry could see significant shifts as major players like Netflix and Comcast vie for control of valuable content and franchises.
Image: James Gunn’s 2025 “Superman”
