Netflix is exploring a potential acquisition of Warner Bros Discovery’s production and streaming operations, Reuters reported on Thursday, citing several anonymous sources familiar with the matter.
Warner Bros announced in June that it would split into two companies: the growing streaming division, including HBO Max and the studio arm, would continue as "Warner Bros.", while its slower traditional television operations would be grouped under "Discovery Global".
Earlier this month, the company said it was also considering "strategic alternatives," including a sale, after receiving unsolicited interest from several parties.
Bloomberg previously reported that Paramount Skydance had made three offers to acquire Warner Bros, all of which were rejected as too low. Netflix and Comcast were also said to be interested.
Reuters now reports that Netflix has appointed financial advisers and gained access to Warner Bros' financial data to prepare a possible bid.
Netflix co-CEO Ted Sarandos recently told analysts that acquisitions were "not a necessity" for the streaming giant but that it remained open to opportunities to strengthen its content and services. He also ruled out any interest in traditional television networks.
