Netflix has reportedly retained a financial advisor from Moelis & Co to explore a potential bid for Warner Bros. Discovery.
The streaming service has enlisted the investment bank to evaluate a potential offer for Warners’ streaming and studio business, following their work advising Skydance Media on its Paramount Global bid, granting Netflix access to WBD’s necessary financial details.
Reuters was first to report the news. Netflix declined to comment.
Following WBD’s rejection of Paramount’s second bid, the company made a market-moving declaration, its first confirmation that it is indeed for sale. WBD said it’s initiated a strategic analysis process in light of “unsolicited interest” from “multiple parties.”
MORE
About the Author
