Netflix Could Reportedly Take Over Warner Bros. and Shake Up Hollywood

Netflix may be preparing to make a play for Warner Bros., according to a new report. This comes just after news broke that Paramount is also trying to buy the famous movie studio.

Dylan Byers of Puck said that “a well-placed Hollywood source called to suggest […] that Netflix was also considering a bid for David Zaslav’s assets.”

Zaslav is the CEO of Warner Bros. Discovery. Byers noted that such a move once seemed far-fetched, but Paramount’s aggressive bid has changed the game.

“Ellison’s seemingly limitless cash and ambition have accelerated Hollywood’s consolidation process, and his decision to bid for all of WBD now—in an attempt to preempt potential rivals—is forcing nearly everyone to dust off their models,” Byers explained.

Paramount’s CEO David Ellison is believed to be preparing a massive all-cash offer to buy Warner Bros. Discovery in full. Meanwhile, Netflix is said to be more interested in Warner Bros.’ film and streaming operations rather than the entire company.

Warner Bros. has had a strong year at the box office, with big hits like Barbie, Superman, Weapons, and Sinners.

But even with that success, Wells Fargo analyst Steven Cahall told Puck that he does not see Warner Bros. Discovery’s stock climbing far above $19 a share. He also believes that companies like Apple or Amazon are unlikely to pursue a full takeover.

If Netflix were to succeed, it would gain control over some of the most valuable franchises in the world, including Harry Potter, DC superheroes, The Lord of the Rings, and Mad Max. It would also inherit a century of Hollywood classics. But some worry about what this would mean for theaters. Netflix has built its empire around streaming, and many of its original films fail to make a lasting cultural impact compared to traditional theatrical releases.

Paramount, however, may still be in the lead. CNBC’s David Faber reported that Paramount is willing to pay between $22 and $24 a share for Warner Bros. Discovery, which would bring in a huge payday for Zaslav. Whether he takes the deal or holds onto one of Hollywood’s most historic companies remains to be seen.

My take: Warner Bros. has been part of movie history for more than 100 years. Letting Netflix take over could risk turning those iconic stories into just more streaming content. At the same time, Paramount’s bid isn’t without its own concerns. What do you think—should Warner Bros. stay independent, or is a buyout inevitable? Share your thoughts in the comments.