Netflix is reportedly interested in buying Lionsgate, the movie studio behind the “John Wick” and “Hunger Games” franchises, after it lost to out on acquiring streaming giant Roku to Fox Corp.
Netflix is one of a number of media companies eyeing Lionsgate, though the Los Gatos, Calif.-based firm has not put in a formal indication of interest yet, Semafor reported Tuesday.
Shares of Lionsgate jumped nearly 11% in midday trading.
Netflix, home to “Stranger Things,” “Bridgerton” and “The Crown,” is increasingly showing up in the marketplace for giant deals. That marks a strategic shift for the company, which has preferred to grow from within rather than expand through large acquisitions.
A rep for Netflix said the streamer “did not put in a formal bid for Roku.” It wasn’t immediately clear why its interest in the smart TV giant did not move forward.
Fox Corp. CEO Lachlan Murdoch announced Monday that the company was acquiring Roku for about $22 billion. Sources opined that Netflix would have had a harder time closing such a deal, facing more antitrust scrutiny than a Fox-Roku tie-up.
Fox Corp. is sister company to The Post’s corporate parent News Corp.
Neflix produces original shows and films and competes with the biggest channels available on Ruku, like Disney’s streamers and Comcast’s Peacock, the sources noted.
Netflix came up short compared to the $160-per-share bid Fox submitted for Roku, which was seeking the highest bid, Semafor reported.
Fox Corp. is sister company to The Post’s corporate parent News Corp.
In the past, Netflix co-CEO Ted Sarandos has described the company’s approach to M&A as “disciplined.”
It declined to raise its $82.7 billion offer to buy Warner Bros. Discovery in February, losing a protracted bidding war to Paramount Skydance, which offered $110 billion.
In Netflix’s earnings call in April, Sarandos said during the pursuit of WBD, “We really built our M&A muscle.”
“We’ve learned so much about deal execution, about early integration,” he added.
