Netflix starts to show interest in the bid to purchase Warner Bros.
Warner Bros.’ “For Sale” sign is still set up and there have been parties interested that could change the world of entertainment. It was recently reported that Paramount/Skydance made bids to buy the legendary cinema studio. If the deal had gone through, Paramount would have taken control of Warners’ big-name properties, such as the Wizarding World of Harry Potter, James Gunn and Peter Safran’s DC Universe, the Lord of the Rings franchise, Game of Thrones, the Godzilla/King Kong Monsterverse, Looney Tunes cartoons, and more.
Warner Bros. rejected Skydance CEO David Ellison’s multiple bids, and now, Deadline is reporting that Netflix is considering placing an offer by retaining the financial advisory firm Moelis & Co. to explore a potential option of purchasing the Hollywood legacy company. The streaming company that started the Titanic shift in entertainment consumption enlisted the investment bank to analyze the situation and use their granted access to Warners’ necessary financial details to see if a buying scenario is possible.
Deadline cited a party close to the situation who claims Netflix is “looking into” the possibility. This also comes after Netflix co-CEO, Greg Peters, make an apparent denial on the speculation that a merger was in the cards by saying in a webcast, “You have to do that by the hard work of developing those capabilities in the trenches day to day. You don’t get there simply by buying another company that is also still developing those same capabilities.” Netflix co-CEO Ted Sarandos also stated, “We’ve been very clear in the past that we have no interest in owning legacy media networks, so there is no change there.”
Although Netflix is “looking into” this possibility, the platform recently made a play for the video podcasting world by partnering with Spotify in an effort to get some of the most notable shows on the young medium to stream on their service.
What do you think about these turn of events in this situation? Would you prefer Netflix to purchase Warner Bros. over Paramount? Personally, I feel the ideal scenario would be like a Mark Cuban of the movie world to pick up the studio as a fan of cinema, but that would be just a pipe dream.
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