Before Netflix bought Warner Bros., the streaming giant reportedly had its sights set on another major studio: Disney.
According to a new report from Bloomberg, Netflix had previously considered buying Disney, along with a number of other media companies, but had always ultimately decided against it.
Other potential mergers included Fox (before it was purchased by Disney) and video game company EA (which has since negotiated a deal to go private with the help of a group of investors, including Saudi Arabia's Public Investment Fund).
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The streamer bought Warner Bros. for $82.7 billion last week in one of the largest media deals ever. The deal gives them HBO, DC Studios, and franchises like Harry Potter and The Lord of the Rings.
Warner Bros. has been behind some of the biggest big-screen hits of 2025, including blockbusters like Superman and A Minecraft Movie and surprise horror hits Sinners and Weapons. Those four movies have cumulatively made around $2 billion at the global box office so far.
There have been some concerns about whether Warner Bros.' theatrical future under Netflix's ownership, but CEO Ted Sarandos has claimed that nothing will change. "The theatrical business we have not talked a lot about in the past, about wanting to do it, because we’ve never been in that business," he said. "When this deal closes, we are in that business, and we’re going to do it. We didn’t buy this company to destroy that value."
For more on this year's biggest movies, check out our guide to the movie release dates that should be on your calendar in 2025 and beyond.
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