The drama around the potential sale of Warner Bros. Discovery has taken another turn, as a new report claims that online movie and TV giant Netflix is actively exploring bidding on the company.

That’s according to Reuters, which states according to “three sources familiar with the matter ... the video streaming service has hired Moelis & Co, the investment bank that advised Skydance Media on its successful bid for Paramount Global, to evaluate a prospective offer, two of the sources said. Netflix also has been granted access to the data room, which contains the financial details needed to make a bid, according to two of the sources familiar with the matter.”

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It’s just the latest twist in a seemingly endless series of ups and downs for Warner Bros. Discovery since the media conglomerate was formed in 2022 by the merger of WarnerMedia and Discovery. Earlier in 2025, the company announced it was intending to split itself back into two companies — Warner Bros. and Discovery — with the former controlling the Warner Bros. studio, HBO, and HBO Max, while the latter would house old school linear cable channels like CNN, TNT, and TBS.

While that could theoretically happen, in recent months there has been numerous reports about one or both of those companies being up for sale. That includes rumors that Paramount Skydance — the newly formed company following Skydance’s acquisition of Paramount Global — wanted to expand even further by buying Warner Bros. Discovery. Now comes word that Netflix may get involved in the bidding as well.

Reuters notes that Netflix CEO Ted Sarandos recently said to investors that the company is traditionally "more builders than buyers," but that it would consider such acquisitions — although it supposedly would not be interested in the Discovery side of the business containing the cable networks.

Basically these rumors will continue until someone actually buys WBD. And then there will be more rumors after that about someone else looking to buy the new combined company. Then we can look forward to the day in the near future when there is just one movie studio left in Hollywood and we no longer have to use our brains to choose what to watch or where to watch it, because there will just be one place that makes and distributes everything.

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