Netflix is moving to acquire Warner Bros. in a multi-billion-dollar deal that would unite two of the biggest players in the entertainment industry and potentially transform the media business.<\/p>\n
The streaming giant has reached an agreement to buy Warner Bros., including its film and television studios, HBO, and HBO Max, at a value of about $82.7 billion, Netflix said in a press release<\/a> announcing the news on Friday.\u00a0<\/p>\n The acquisition stands to expand Netflix\u2019s already extensive content library and growing power within the entertainment world. The company currently has more than 300 million paid subscribers<\/a> across more than 190 countries, making it the largest paid streaming service in the world. The deal would give it ownership of one of its leading streaming rivals in HBO Max, as well as Warner Bros.\u2019 storied Hollywood film studio and popular film and television franchises, including Game of Thrones<\/em> and Harry Potter<\/em>.<\/p>\n<\/div>\n The company said the deal is expected to close after Warner Bros. separates its cable business from its streaming and studio business, likely by the third quarter of 2026. The acquisition will also require the approval of federal regulators\u2014which Netflix co-CEO Ted Sarandos has said<\/a> the company is \u201chighly confident\u201d it will receive.<\/p>\n \u201cOur mission has always been to entertain the world,\u201d Sarandos said in the press release. \u201cBy combining Warner Bros.\u2019 incredible library of shows and movies\u2014from timeless classics like Casablanca<\/em> and Citizen Kane<\/em> to modern favorites like Harry Potter<\/em> and Friends<\/em>\u2014with our culture-defining titles like Stranger Things<\/em>, KPop Demon Hunters<\/em> and Squid Game<\/em>, we\u2019ll 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.\u201d<\/p>\n But the deal has sparked backlash from some industry leaders and lawmakers who fear that it would give the streaming service too much authority within the entertainment industry. Democratic Sen. Elizabeth Warren of Massachusetts said<\/a> the deal looked \u201clike an anti-monopoly nightmare,\u201d while the Writers Guild of America<\/a> said it \u201cmust be blocked.\u201d<\/p>\n<\/div>\n Here\u2019s what to know about the deal.<\/p>\n Under the deal, Netflix would acquire Warner Bros.\u2019 studio and streaming business, which includes HBO Max and HBO.<\/p>\n Netflix said that shows and movies currently available on Warner Bros. streaming sites\u2014such as The Big Bang Theory, The Sopranos, Game of Thrones, The Wizard of Oz, <\/em>and the DC Universe\u2014would join its own portfolio as a result of the deal.<\/p>\n Netflix also said it would maintain Warner Bros.\u2019 commitment to theatrical releases for its movies. While the legacy media company has continued to put its films out in theaters, Netflix has mainly focused on expanding at-home streaming services.<\/p>\n Critics have expressed concern that the deal would lead to Netflix having a monopoly in the streaming market.<\/p>\n \u201cA Netflix-Warner Bros. would create one massive media giant with control of close to half of the streaming market,\u201d Warren said<\/a> in a post on X on Friday. \u201cIt could force you into higher prices, fewer choices over what and how you watch, and may put American workers at risk.\u201d She urged the Justice Department to \u201cenforce our nation\u2019s anti-monopoly laws fairly and transparently.\u201d<\/p>\n<\/div>\n Democratic Rep. Pramila Jayapal of Washington, like Warren, called the deal a \u201cnightmare.\u201d<\/p>\n \u201cIt would mean more price hikes, ads, & cookie cutter content, less creative control for artists, and lower pay for workers,\u201d Jayapal wrote<\/a> on X. \u201cThe media industry is already controlled by a few corporations with too much power to censor free speech. The gov\u2019t must step in.\u201d<\/p>\n Several Republican lawmakers have expressed similar worries.<\/p>\n \u201cThis potential transaction, if it were to materialize, would raise serious competition questions\u2014perhaps more so than any transaction I\u2019ve seen in about a decade,\u201d Sen. Mike Lee of Utah warned in a post<\/a> on X on Wednesday, prior to Netflix winning the bidding war for Warner Bros.<\/p>\n \u201cNetflix built a great service, but increasing Netflix\u2019s dominance this way would mean the end of the Golden Age of streaming for content creators and consumers,\u201d he added.<\/p>\n On Thursday night, before the deal was confirmed but after Netflix had won the bidding battle, the Directors Guild of America, which represents film and television directors, said it was hoping to meet with Netflix to discuss its \u201cconcerns.\u201d<\/p>\n<\/div>\nWhat\u2019s included in the deal?<\/strong><\/h2>\n
Why is the deal receiving pushback\u2014and from who?<\/strong><\/h2>\n