Asset manager Mario Gabelli has suggested that streaming giant Netflix should explore a partnership with Sony Group to strengthen its intellectual property strategy amid intensifying streaming competition, following its failed acquisition bid for Warner Bros. Discovery. As the founder, chairman, and CEO of Gamco Investors Inc., Gabelli indicated that Netflix's global distribution capabilities could be enhanced by leveraging Sony's expanding anime portfolio. "There are always winners and those who exit," he remarked, adding that Netflix should "knock on Sony's door." Data shows that as of December 31, Gamco and its affiliates managed approximately $35 billion in assets and held nearly 6 million shares of Warner Bros. Gabelli also holds stakes in Netflix and Paramount Global, the latter being the successful bidder in the Warner Bros. acquisition contest. He mentioned advising clients to reassess their media holdings and prepare for increased merger and acquisition activity. "This is an excellent time," Gabelli stated in an interview, describing current M&A conditions as more active than last year, driven by divestitures, financial engineering, and expectations of regulatory approvals amid improving financing conditions. Beyond the media sector, Gabelli highlighted "razor-and-blades" businesses—products requiring regular purchases, such as tires for the aging U.S. vehicle fleet. In sports, he emphasized the value of team franchise assets and Madison Square Garden Sports, noting potential benefits from asset spin-offs or partial sales. He observed that growing acceptance of private equity investments in leagues like the NFL is creating new ownership structures. Global events such as the World Cup could also boost the value of soccer-related assets, including Manchester United, whose largest shareholder is British billionaire Jim Ratcliffe. Rising global interest in soccer may drive further monetization opportunities.