Netflix is considering a major operation: according to sources close to the matter cited by ReutersThe streaming platform has hired the investment bank Moelis & Co to study the feasibility of a takeover bid for Warner Bros. Discovery, owner of HBO, CNN, and Warner Bros. Pictures, among others. This project, still in its preliminary stages, could revolutionize the global media and entertainment landscape.
Netflix's move marks a major strategic shift for the streaming giant, which has historically focused on the production and distribution of digital content rather than acquiring large, traditional companies. The goal is to strengthen its position in a market that has become extremely competitive, dominated by Disney, Amazon, and Apple.
According to available information, Netflix is primarily seeking to assess the financial and regulatory viability of such a merger. The company is reportedly not interested in Warner Bros. Discovery's linear television channels, particularly CNN, which its co-CEO Ted Sarandos has publicly described as "models of the past." The core focus would instead be on Warner Bros.' extensive content catalog and the HBO brand, seen as a strategic asset against Disney+ and Prime Video.
Comcast, another major player in the sector, is also reportedly monitoring the situation closely. The American group, owner of NBCUniversal, has apparently launched an internal review of its own media assets, while downplaying concerns about potential excessive market concentration.
A Netflix acquisition of Warner Bros. Discovery would represent one of the largest mergers and acquisitions in entertainment history, with a potential value estimated at over $60 billion. However, such a deal would face numerous obstacles, particularly in terms of competition and regulation, both in the United States and Europe.
Analysts believe this initiative illustrates Netflix's desire to expand its business model beyond subscription streaming by integrating more production, licensing, and global franchises. If it were to materialize, this merger would redefine the balance of power in the audiovisual sector and mark a new era of consolidation among entertainment giants.
