Netflix is reportedly exploring a purchase and merger with Lionsgate, according to Semafor. Lionsgate is behind major hits including "Twilight," "The Hunger Games," "Saw," "La La Land," "Step Up," and "John Wick," along with newer titles such as "The Maid" and "Michael."
The report comes after a year in which Netflix tried to buy Warner Bros. Discovery but lost to Paramount, which made a much higher bid. Netflix also considered buying streaming technology company Roku, but Fox was announced this week as the buyer instead.
The renewed takeover talk arrives amid wider concerns about consolidation in the U.S. film industry. The Warner Bros. Discovery deal has still not received final approval and is expected to face more obstacles, while critics have questioned how mergers and streaming platforms may affect competition and cinema revenues.
In Netflix's case, the concern is especially tied to theatrical windows. The company is not enthusiastic about giving films a long exclusive run in theaters and prefers to move them quickly to home viewing, which can hurt box office income. Lionsgate is smaller than Warner Bros. Discovery, but the issue is likely to return to public debate. Semafor said other companies are also interested in Lionsgate, while both Lionsgate and Netflix declined to comment. People familiar with the matter said no formal offer has been made so far.
