Netflix in talks to acquire Warner Bros. Discovery, reports claim

According to a report by Reuters, Netflix is “actively” considering a bid to acquire Warner Bros. Discovery (WBD), the entertainment company behind major 2025 releases such as A Minecraft Movie, Superman, and Sinners. The streaming giant has reportedly hired an investment bank to explore a potential offer, signaling a major shift in the media and streaming landscape.

If successful, the acquisition would bring globally recognized franchises — including Harry Potter, the DC Universe, and HBO Max — under Netflix’s umbrella. However, the streamer may face competition from Paramount Global and Skydance, which are also reportedly interested in purchasing Warner Bros. Discovery. The company recently confirmed it is evaluating buyout offers, making it officially up for sale.

The potential merger raises questions about the future of DC Studios and its co-CEO James Gunn, who has been leading the franchise’s creative reboot. While speculation has circulated that Gunn might exit his role, Bloomberg reported that Paramount’s CEO David Ellison — should his acquisition go through — plans to retain the creative teams at both studios. Ellison also aims to merge HBO Max with Paramount+, creating a single platform with an expanded library of films and series.

Warner Bros. Discovery continues to perform strongly across its divisions, with box office hits such as Superman and A Minecraft Movie, and a robust lineup of TV content on HBO Max including The Penguin, The White Lotus, and Peacemaker. The company’s gaming division, home to Hogwarts Legacy and Mortal Kombat, further enhances its value to potential buyers.

If the Netflix bid materializes, it would mark one of the largest mergers in Hollywood history, potentially redefining the future of streaming and entertainment ownership.