Netflix Looks to Buy Lionsgate After Missing Out on Warner Bros. — Report

Netflix is now looking at buying Lionsgate. According to a new report, the streaming service company is interested in purchasing Lionsgate Studios after missing out on Warner Bros. Discovery and Roku.

The Netflix streaming service company was previously looking to merge with Warner Bros., though that is no longer happening. Then, Netflix looked at purchasing Roku, though it never made an official bid for the company.

What do we know about the Netflix and Lionsgate situation?

According to Semafor, Netflix has now set its sights on Liongstate Studios. The article notes that Netflix is currently only “one of a number of media companies” that is interested in buying Lionsgate and, along with the other companies, has not yet “put in a formal indication of interest, according to a person familiar with the matter.”

The article explains, “Netflix has described its approach to M&A as ‘disciplined.’ It demonstrated that with Warner Bros., to Hollywood’s dismay, and again at Roku. Spokespeople for Roku and Lionsgate declined to comment. Fox offered $22 billion in a mix of cash-and-stock for Roku. But there are some signs that Netflix’s offer might have been a challenging deal. A Netflix-Roku tie up would have been thornier, antitrust-wise, than the combination of Roku and Fox, some of those people said. Netflix produces original content and competes with the biggest players on Roku’s platform, such as Disney’s streaming services and Comcast’s Peacock. The Roku board was also intently focused on maximizing value, another person familiar with the matter said, suggesting that Netflix came up short of the $160-per-share bid that Fox offered.”

Further details beyond that are unavailable at this time. If Netflix were to truly purchase Lionsgate, there would be a number of legal steps and hoops to jump through that would be required before any deal is finalized.

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