Netflix eyes Warner Bros Discovery acquisition
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Netflix (NFLX) is exploring a potential bid for Warner Bros Discovery’s (WBD) studio and streaming business, according to three sources familiar with the matter.
The streaming giant has retained investment bank Moelis & Co — which advised Skydance Media on its successful acquisition of Paramount Global — to assess a possible offer, two sources said, News.Az reports, citing Reuters.
Netflix has also reportedly been granted access to Warner Bros Discovery’s data room, which contains key financial details necessary for due diligence.
Following the reports, shares of both Netflix and Warner Bros Discovery rose more than 2% in premarket trading on Friday.
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