According to Deadline.com, Netflix is considering an offer to purchase Warner Bros. Discovery (WBD), despite previous reports suggesting that Paramount is also interested. The report notes that Netflix has engaged the financial advisory firm Moelis & Co. to assess a potential acquisition of WBD's streaming and studio business. Moelis & Co. previously advised Skydance Media on its bid for Paramount Global, and Netflix has gained access to WBD’s financial details.
The report states that Netflix has consistently maintained that it does not view theatrical distribution as a core part of its business model, except for promoting its films during awards season. Therefore, pursuing the acquisition of a major theatrical distributor would be a notable shift for Netflix.
Currently, Netflix distributes WWE programming globally, while AEW airs on WBD's Turner networks and HBO Max. However, there should not be an expectation that both wrestling promotions will merge if a sale occurs, as the network companies merely distribute wrestling content and do not own it. If a merger were to happen, it could benefit WWE, as it is the more lucrative brand, while AEW could suffer a loss, similar to how TNN acquired WWE programming and subsequently sidelined ECW.
