** Morningstar says Netflix NFLX.O pursuing Warner Bros WBD.O takeover has implications for cinema operators, like Australia's EVT EVT.AX

** Adds Netflix isn't pursuing WBD to make movies for cinemas; notes it's very unlikely Netflix will commit to releasing as many new films via cinemas

** Flags EVT's entertainment unit revenue is hostage to quality, quantity of films; adds no good films from Hollywood, no avenues to upsell high-margin peripherals to movie-goers

** Says competing offer from Paramount Skydance PSKY.O, regulatory and political hurdles, opposition from creative community creating uncertainty around Netflix's bid

** Keeps EVT's fair value estimate at A$13.30

** EVT last up 0.2%, taking YTD gains to 21%

(Reporting by Rishav Chatterjee in Bengaluru)

((Rishav.Chatterjee@thomsonreuters.com))