American streaming service Netflix is exploring the acquisition of American media conglomerate Warner Bros. Discovery, Reuters reported, citing sources.
Netflix has hired investment bank Moelis & Co. to evaluate a potential offer. The service has also received access to financial information necessary for its offer.
Warner Bros. Discovery and Moelis & Co. declined to comment, according to the agency. Netflix could not be reached for confirmation.
Warner Bros. Television Studios produces many popular Netflix series. Ownership of this business would give the service control over some of its most popular stories and characters, including the Harry Potter and DC Comics franchises.