Netflix taps bank to explore bid for Warner Bros: sources

STORY: Netflix is actively exploring a bid for Warner Bros Discovery's studio and streaming business.Three sources told Reuters that Netflix has brought in investment bank Moelis & Co to explore the deal. That’s the same firm that helped Skydance Media in its successful bid for Paramount Global.The streaming giant has also been given access to Warner Bros Discovery’s financial data, a key step in evaluating a potential offer.Warner Bros and Moelis declined to comment, while Netflix could not be reached for comment.Owning the studio business would give Netflix control over some of Hollywood's most successful stories and characters, including the Harry Potter and DC Comics franchises. :: FileLast week, Netflix CEO Ted Sarandos told investors the company evaluates acquisitions that could strengthen its content, but he said the firm had no interest in Warner Bros Discovery’s cable networks.Warner Bros has received multiple unsolicited offers to buy the company.Its board is also weighing whether to proceed with a planned split or consider selling all or parts of the business.

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