The deal is valued at $82.7 billion
Netflix will acquire Warner Bros. Discovery, Inc. in a deal valued at $82.7 billion.
Boards of directors from both Netflix and WBD unanimously approved today’s deal, and the studios anticipate the transaction to close within a year to 18 months.
“Our mission has always been to entertain the world,” said Ted Sarandos, co-CEO of Netflix. “By combining Warner Bros.’ incredible library of shows and movies—from timeless classics like Casablanca and Citizen Kane to modern favorites like Harry Potter and Friends—with our culture-defining titles like Stranger Things, KPop Demon Hunters and Squid Game, we’ll be able to do that even better. Together, we can give audiences more of what they love and help define the next century of storytelling.”
The acquisition will also move HBO and HBO under the Netflix umbrella and should close after Discovery Global separates from Warner Bros., which is expected to finalize around the summer of 2026. The streaming giant says it will maintain WBD’s current operations.
From the Warner Bros. Discovery side, President and CEO David Zaslav said, “Today’s announcement combines two of the greatest storytelling companies in the world to bring to even more people the entertainment they love to watch the most. For more than a century, Warner Bros. has thrilled audiences, captured the world’s attention, and shaped our culture. By coming together with Netflix, we will ensure people everywhere will continue to enjoy the world’s most resonant stories for generations to come.”
Regulator approval is still needed for the deal to go through. On X, Sen. Elizabeth Warren called it “an anti-monopoly nightmare.”
“A Netflix-Warner Bros. would create one massive media giant with control of close to half of the streaming market,” she wrote. “It could force you into higher prices, fewer choices over what and how you watch, and may put American workers at risk.” However, the acquisition is expected to go through.
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‘ Some details of this article were extracted from the following source lamag.com ’
