Netflix is exploring an offer for Warner Bros. Discovery.

Netflix is exploring an offer for Warner Bros. Discovery's studio and streaming business.

According to Reuters, Netflix has engaged the investment bank Moelis & Co to evaluate this deal. This firm previously worked with Skydance Media, which successfully prepared an offer for Paramount Global.

Additionally, it is reported that Netflix has gained access to Warner Bros. Discovery’s financial data to assess a potential offer. Warner Bros. and Moelis declined to comment on the matter, and Netflix could not be reached for comment.

Owning the studio would give Netflix the opportunity to have control over some of Hollywood's biggest success stories, including characters like Harry Potter and DC Comics.

Last week, Netflix CEO Ted Sarandos informed investors that the company is considering acquisitions that could strengthen its content but noted that they are not interested in Warner Bros. Discovery’s cable networks.

Warner Bros. has reportedly received multiple interested offers to buy the company. It has also been learned that the Board of Directors is considering whether to proceed with a planned split or if they are thinking about selling the entire business or parts of it.