Netflix Eyes Acquisition of Warner Bros. Discovery to Strengthen Streaming And Content Empire

Netflix may acquire Warner Bros. Discovery’s studios and streaming operations, gaining access to iconic content like Harry Potter and Game of Thrones, amid media consolidation trends. The deal could enhance Netflix’s global reach but involves managing significant debt.

New Delhi: According to sources, Netflix is ​​considering acquiring Warner Bros. Discovery's (WBD) studio and streaming assets. This could be one of the biggest media deals of the year. Netflix has appointed investment bank Moelis & Co. to guide the deal process. WBD has granted Netflix access to its financial data to complete due diligence.

Which Assets Would Be Included?

If the deal goes through, Netflix would gain control of one of Hollywood's most valuable content libraries. This includes the Harry Potter franchise, DC Comics characters, HBO's "Game of Thrones," and popular shows like "Friends." It would also include global networks such as CNN, TNT, Food Network, and the Discovery Channel.

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Netflix's Priorities

According to sources, Netflix is ​​primarily interested in WBD's studio and streaming operations, not its traditional cable networks. Netflix CEO Ted Sarandos has told investors that the company is not interested in "legacy media networks," suggesting they may sell off WBD's cable TV assets.

WBD's Financial Situation and Deal Background

Warner Bros. Discovery has been under financial pressure for some time. In 2024, the company reported a net loss of $11.5 billion, including a $9.1 billion goodwill impairment charge. WBD announced in June 2025 that the company would be split into two parts: one for streaming and studios and the other for global linear networks.

Trend of Mergers and Acquisitions in the Media Industry

The deal discussions are part of a second wave of mergers and acquisitions in the media industry. Traditional entertainment companies are struggling with declining TV revenue, while streaming platforms are looking to acquire massive amounts of content and networks to gain an edge in global competition.

Challenges and Opportunities for Netflix

If Netflix acquires WBD's premium content and studio infrastructure, it would significantly strengthen its position against giants like Disney, Amazon, and Apple TV+. However, this deal would also require Netflix to assume approximately $34 billion of WBD's debt and integrate complex streaming operations.

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This potential deal would give Netflix the opportunity to strengthen its global presence. However, managing the substantial debt and complex operations would be a major challenge. This deal could prove to be a significant turning point in the media industry.