Netflix has made a big move to buy Warner Bros. Discovery, owner of brands such as HBO, DC, Harry Potter, and film and television studios. According to Bloomberg, the company won the dispute against the other groups and is now negotiating to buy the entire operation on its own.
The streaming giant’s proposal offers between $28 and $30 per share, almost all in cash, plus a $5 billion fine if the deal is blocked by regulators. That package ended up beating out offers from groups like Paramount Skydance and Comcast, which only wanted parts of the company and left it in the final cut.
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Buying Warner would be a very different move than Netflix typically takes. Until now, the company has been known for creating its own films and series or purchasing content rights from other studios. However, if Warner takes over, it will control a classic Hollywood studio responsible for producing major films.
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In practical terms, this means that Netflix will not only rely on streaming: it will also be interested in films that premiere in cinemas, in the traditional model, before arriving on the platform. The move would create a hybrid operation that combines cinema and streaming under the same leadership.