Netflix Considering Bid for Warner Bros. Discovery

With Warner Bros. Discovery potentially up for sale, much of the talk has been about Paramount making an offer. Yet according to a new Deadline story, Netflix is looking at the possibility of making a bid as well. They’ve reportedly retained the services of financial advisory firm Moelis & Co, “to evaluate a potential offer for Warners’ streaming and studio business, following its work advising Skydance Media on its Paramount Global bid, granting Netflix access to WBD’s necessary financial details.”

Netflix has steadfastly maintained that they don’t really see theatrical distribution as part of their model beyond promoting their films during awards season and the like, so any possible move to acquire a major theatrical distributor is new for them. Netflix also distributes WWE programming globally, while AEW airs on the WBD Turner networks and HBO Max platform.

Don’t expect a situation like Disney buying Fox and therefore making X-Men versus Avengers movies, though. The companies merely distribute wrestling programming and don’t own it. In all likelihood, any potential merger would be to WWE’s benefit, as the more lucrative brand, and AEW’s loss, like back when TNN (remember them?) acquired WWE programming and kicked ECW to the curb.

Can Netflix afford a company that rejected Paramount’s offers? We’ll have to see. As in wrestling, anything is possible in the entertainment business.