By Michael Elkins
Bloomberg reported late on April 3rd, citing two people familiar with the matter, that Warner Bros Discovery Inc (NASDAQ:WBD) is close to a deal for a new online TV series based on Harry Potter, the best-selling young adult books.
The company is hoping the series can be a cornerstone of a new streaming strategy that will be announced next week. The company’s Chief Executive Officer, David Zaslav, and HBO Chief Casey Bloys have reportedly worked to convince Rowling to produce the new series, but the deal hasn’t been completed.
Warner Bros. is preparing to announce a new streaming strategy, including the name Max for its flagship online service, which debuted as HBO Max. Key to that strategy will be having new content, especially films and TV shows based on stories and characters that viewers already know.
The Potter brand has spawned a series of successful products and spinoffs, including the highly anticipated Hogwarts Legacy role-playing game published in February.
Warner Bros. has been eager to do more with one of the best-selling book series of all time. While Rowling agreed to a stage play adaptation and a theme-park attraction, she has yet to sign off on new movies or a TV show.
Shares of WBD are up 0.34% in pre-market trading on Tuesday.