John Malone Assesses Warner Bros. Finding Bidding War, Favors Netflix Deal
Veteran media executive John Malone believes a potential acquisition of Warner Bros. Discovery (WBD) by Netflix would be “much less disruptive to Hollywood” than a merger wiht another studio, according to a recent interview. WBD launched a formal sale process in November 2025 after receiving offers from Paramount, which was recently acquired by Skydance and backed by Oracle co-founder Larry Ellison. Netflix and Comcast have also hired investment banks to explore potential offers, and Amazon-MGM is reportedly evaluating the studio and its streaming businesses.
malone suggests combining WBD with another studio would likely result in “compression of activity” as companies seek synergies. He cautioned that regulatory approval is uncertain, citing “a political element” and differing interpretations of concentration and public interest, both domestically and internationally.
WBD is currently weighed down by debt stemming from the Discovery-WarnerMedia merger and a decline in linear television viewership. The company is also pursuing a previously announced plan to split into two entities: a streaming and studios company, and a global linear networks company. Malone expressed hope this split would occur without interference, but noted the Paramount offers “really kind of interrupted what I thought was a routine process.” he suggested the split would also allow for the potential separation of CNN, which he has publicly criticized for perceived liberal bias.
