Executives at the streaming company are said to be in talks with writers, though no writers or actors are currently attached to a project.
In a statement made to the publication, HBO Max and Warner Bros said: "There are no Harry Potter series in development at the studio or on the streaming platform."
HBO Max, Warner Bros, and author and creator J K Rowling (pictured) control rights to the property. The author has a say in every project concerning the franchise.
In 2016, NBCUniversal signed a seven-year rights deal with Warner Bros Domestic TV Distribution that included US broadcast, cable and streaming rights to the Wizarding World franchise. The deal, which ends in April 2025, includes digital initiatives as well as theme park content and events. The deal also means Warners executives had to make a side deal that allowed all of the Harry Potter features to briefly stream on HBO Max when the service launched last May.
The films will return to NBCUniversal's newly launched streaming service, Peacock, at a date still to be confirmed.
Rowling's agent Neil Blair has yet to comment on the Hollywood Reporter story.