A major shift could be on the horizon for Hollywood. Reports indicate that Comcast Corporation, parent company of NBCUniversal and Universal Pictures, is exploring a bid to acquire Warner Bros. Discovery’s studio and streaming assets — a move that, if realized, would represent one of the most significant consolidations in modern entertainment history.
According to multiple industry sources, Comcast has enlisted Goldman Sachs and Morgan Stanley to evaluate a possible offer. The interest follows Warner Bros. Discovery’s June 2025 announcement that it intends to separate into two companies by mid-2026: one focused on “Studios & Streaming,” and another dedicated to “Global Linear Networks.” The proposed split has effectively opened the door for potential buyers.
While no formal agreement has been confirmed, discussions reportedly center on a partial acquisition rather than a full company buyout, targeting Warner Bros. Discovery’s film studio and streaming division — which includes HBO and Max. The combined value of these assets could exceed $70 billion, though Warner Bros. Discovery’s substantial debt remains a complicating factor.
If Comcast proceeds, the merger would bring together two of the largest entertainment portfolios in the world. Universal’s library, theme parks, and NBC broadcast network could be joined by Warner Bros.’ century-old film studio, DC Entertainment, HBO, CNN, and Discovery brands. It would also unite streaming platforms Peacock and Max, giving the new entity a stronger global foothold against competitors such as Netflix, Apple TV+, and Disney+.
Both companies have faced challenges expanding their streaming services internationally and maintaining profitability in an increasingly crowded market. A merged catalog of Universal and Warner Bros. titles would create one of the most comprehensive content libraries available, spanning classic cinema, blockbuster franchises, unscripted programming, and premium series.
For now, the move remains exploratory.
If Universal and Warner Bros. Discovery were to unite, it would mark not just another merger, but a redefinition of modern media power — blending legacy studios, streaming platforms, and global networks under one banner in the pursuit of scale, stability, and the future of entertainment.
