Netflix has reportedly retained a financial advisory firm Moelis & Co to explore a potential bid for Warner Bros. Discovery .

The streaming service has reportedly enlisted the investment bank to evaluate a potential offer for Warners’ streaming and studio business, following its work advising Skydance Media on its Paramount Global bid, granting Netflix access to WBD’s necessary financial details.

A source close to events confirmed Thursday night that the streamer is “looking into” the possibility of a move on part of WBD. Netflix declined to comment.

Following WBD’s rejection of Paramount’s second bid , the company made a market-moving declaration , its first confirmation that it is indeed for sale. WBD said it’s initiated a strategic review process in light of “unsolicited i

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