Big changes are happening in the media industry, and companies are getting gobbled up left and right. One particularly tasty piece of media real estate is the Hollywood icon Warner Bros. As companies circle the legendary studio, it appears that one major company is getting serious about an acquisition: Netflix.
Reuters reported Friday that the streaming giant was “exploring a bid” for the legendary movie studio. As part of that effort, Netflix has hired investment bank Moelis & Co. to “evaluate a prospective offer,” sources told the outlet. The bank is reportedly the same one that assisted David Ellison’s Skydance Media in its acquisition of Paramount this summer. Reuters also reports that Netflix has been “granted access to the data room, which contains the financial details needed to make a bid.” Gizmodo reached out to Netflix and Warner Bros. for comment.
Already in the running to acquire Warner Bros. is Skydance (following its acquisition of Paramount, the new combined companies are now called Paramount Skydance). Last month, the Wall Street Journal reported that the new conglomerate was preparing a majority cash bid for WBD. Ellison, the son of Oracle billionaire Larry Ellison, is also responsible for assigning Bari Weiss to head CBS, despite the fact that Weiss has never worked in television news before. Weiss has spent her life primarily working in opinion, not news.
So, between Ellison’s company and Netflix, which would be the best option? It’s difficult to say. Ellison and his father have been accused of “building a pro-Trump media behemoth.” Netflix, meanwhile, makes bad movies. So, suffice it to say, neither would really be a great home for the studio that, in better times, brought us McCabe and Mrs. Miller, A Clockwork Orange, Dirty Harry, Blade Runner, and many other classic films. That said, there are several other potential suitors—including Apple and Amazon—that are also reportedly interested.
But betting odds are still on Paramount. Earlier this month, the New York Post reported that a senior Trump administration official said, “Who owns Warner Bros. Discovery is very important to the administration.” The anonymous official said that the WBD board needs to think hard about who has been successful at getting regulatory approval for this sort of deal through the White House. “And that points to the Ellisons,” they said.
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