After seemingly ruling itself out of any bid for Warner Bros. Discovery, is the streaming giant now changing tack? Deadline reports that Netflix has retained financial advisory firm Moelis & Co to explore a potential bid. That bid would be just for the streaming and studio business, currently being separated in an internal restructure.
Interestingly, this is the same investment bank that advised Skydance Media on its bid for Paramount, which eventually created Paramount Skydance. Paramount is reported to be deep into their thought process on a potential bid for WBD themselves.
This is like a soap opera! Now all we need is to find out somebody is having an affair with somebody else high up in the power structures.
A “source” close to Netflix has confirmed they are exploring the opportunity. Warner Bros. Discovery has rejected at least two bids by Paramount for the entire company, un-split, after they declared they would listen to offers.
Netflix’s co-CEOs Greg Peters and Ted Sarandos had seemingly made it clear recently on their recent quarterly earnings webcast that they weren’t interested, referring to WBD as:
“…legacy media…”
WBD stock has, unsurprisingly, increased, so David Zaslav’s strategy is clear as he seeks to maximise returns on any sale for WBD shareholders.
The question is, will WBD complete its restructure, or will Paramount buy the whole thing? Netflix appear to be interested in one side of the split operation only.
