Overview
- Netflix retained Moelis & Co. and obtained access to Warner Bros. Discovery’s data room to assess a potential offer for the studio and streaming businesses, according to Reuters.
- Netflix co-CEO Ted Sarandos has said the company is not interested in legacy cable networks, indicating any offer would exclude channels such as CNN and TNT.
- Comcast president Mike Cavanagh said the bar for mergers remains “very high” but cited potential fit with studio and streaming assets once the Versant cable spinoff is completed.
- Analysts warned a Comcast-WBD deal could face political and antitrust resistance under the Trump Justice Department, though Comcast suggested more structures may be feasible.
- WBD’s board is conducting a formal strategic review that contemplates selling parts or all of the company versus proceeding with a separation of studios/streaming from linear networks after turning down multiple Paramount Skydance bids.