Netflix is reportedly eyeing Warner Bros. for acquisition as the latter entertains offers from several prominent media companies.

Earlier this year, Warner Bros. Discovery, the parent company of influential networks like CNN, HBO, and Discovery, revealed its intention to restructure into two distinct entities. One would concentrate on network television, while the other would prioritize streaming services and studio productions.

“After receiving interest from multiple parties, we have initiated a comprehensive review of strategic alternatives to identify the best path forward to unlock the full value of our assets,” announced Warner Discovery’s Chief Executive David Zaslav in a statement on Tuesday.

Netflix’s co-chief executive, Ted Sarandos, highlighted the allure of Warner Bros.’ vast library of films and TV shows, as well as its production capabilities, as a compelling opportunity for the streaming giant.

According to Bloomberg, this potential split could release struggling networks like CNN from Warner Bros.’ burgeoning streaming and production divisions, potentially paving the way for a more focused and profitable future.

Over the past year, CNN – the company’s only news network – has seen a decline in ratings.

CNN reportedly received 42 percent less viewers in the third quarter of 2025 than in the third quarter of 2024, according to Ad Week.

In January, CNN laid off 6 percent of its work force and new digital strategies, which Warner Bros. invested $70 million into.

The news network also announced plans for a streaming service, despite shutting down CNN+ just a month after it launched in 2022.

Netflix is one of multiple media companies in talks to purchase some or all of the Warner Bros company

Netflix co-executive officer Ted Sarandos expressed interest in the studios and library of films that the company has

At the beginning the year, CNN announced layoffs and a change in their digital strategy

Regardless of network changes, Netflix reportedly lacks interest in CNN which could leave the network floundering. 

Earlier this month Netflix co-chief Greg Peters executive told a conference hosted by Bloomberg: ‘We come from a deep heritage of being builders rather than buyers.’

Netflix CEO Reed Hastings has not commented publicly on the potential deal. 

Warner Bros CEO David Zaslav merged Discovery and Warner Bros in 2022 in an effort to better compete with Netflix, but with the potential sale on the horizon its clear that the strategy may not have worked. 

Netflix has consistently seen higher streaming numbers. more than double of Max’s.

According to Netflix, the streaming service boasts over 300 million subscribers. Whereas Max has less than 150 million, per Media Play News. 

The Warner Bros. board plans to evaluate ‘a broad range’ of options including splitting the company in 2026, a sale, or separate deals for its Warner Bros and Discovery global units. 

Reed Hastings (pictured) doesn’t have a history of acquisition with Netflix

Warner Bros has experimented with the idea of splitting the company to make it more attractive to buyers

Warner Bros David Zaslav announced that the company would be assessing the best path forward

Zaslav hopes that Warner Bros may sell for a larger price tag once finally separated from networks like CNN and TNT, as more companies have expressed interest in streaming assets. 

Paramount and Apple have also been in discussion to acquire the company. 

‘I never say no to anything, but we’re not actively looking at buying any company of any size,’ said Apple’s top service executive Eddy Cue.

Paramount was the first to send a formal bid for the entire company – networks and all – in September, according to the Wall Street Journal.

The entertainment company initially declined the offer, but is said be considering Paramount’s second proposition.

With the future of sales and splits still up in the air, it’s unclear what the future could be for Warner Bros.’ struggling assets like CNN. 

The Daily Mail reached out to Netflix and Warner Brothers for comment.