Netflix Acquires Warner Bros. and HBO for $83 Billion

Netflix Acquires Warner Bros. and HBO for $83 Billion


Netflix took the entertainment world by surprise when it revealed plans to acquire Warner Bros. and HBO in a deal valued at $82.7 billion, a megadeal that would instantly position the company as one of the most powerful forces in the global streaming landscape.



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In a press release published on Netflix’s website, the company described the move as follows:

“Netflix will acquire Warner Bros. following the separation of Discovery Global for a total enterprise value of $82.7 billion (equity value of $72.0 billion),” and framed the deal as a way to extend its reach. The company stated that the acquisition would “unite the iconic franchises and libraries of Warner Bros. with Netflix’s premier entertainment service, creating an extraordinary offering for consumers,” while pledging to “maintain Warner Bros.’ current operations with Netflix,” and adding that the combination would “offer more choices and value to consumers, create more opportunities for the creative community, and generate value for shareholders,” concluding that the acquisition would “strengthen the entertainment industry.”

Under the terms of the agreement, Netflix says it has entered “a definitive agreement pursuant to which Netflix will acquire Warner Bros., including its film and television studios, HBO Max and HBO,” which would allow it to control nearly all of Warner Bros Discovery’s major entertainment assets. The company described the transaction as a cash-and-stock offer valued at “$27.75 per share of WBD (subject to a collar as detailed below),” with an enterprise value of about $82.7 billion (equity value of $72.0 billion). Netflix said the acquisition would not close until after the previously announced separation of WBD’s Global Networks division, Discovery Global, into a new publicly traded company, a milestone now expected to be completed in the third quarter of 2026, clearing the path for regulatory review and final approval of the takeover.

An Unprecedented Streaming Offer

Netflix presents the Warner Bros. acquisition as a way to merge two colossal catalogs of entertainment into what it calls an unprecedented streaming proposition. In its press release, the company states:

“This acquisition unites two trailblazing entertainment companies, combining innovation, global reach, and Netflix’s best-in-class streaming service with Warner Bros.’ century-long storytelling heritage.”

The company notes that “beloved franchises, shows and films such as The Big Bang Theory, The Sopranos, Game of Thrones, The Wizard of Oz and the DC Universe” will sit alongside Netflix favorites like “Wednesday, Money Heist, Bridgerton, Sex Education and Extraction.”

Ted Sarandos, co-CEO, ties this move to the company’s core identity, stating:

“Our mission has always been to entertain the world,” adding that by uniting Warner Bros. classics—“timeless pieces like Casablanca and Citizen Kane” with modern favorites such as “Harry Potter and Friends”—alongside Netflix titles that shape culture like “Stranger Things, K-Pop Demon Hunters, and Squid Game,” the combined catalog “will give audiences more of what they love and help define the next century (…)”

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According to Netflix, the deal will not close immediately, but only after a key step in Warner Bros. Discovery’s restructuring has been completed.

The company states: “The transaction should close after the previously announced separation of WBD’s Global Networks division, Discovery Global, into a new publicly traded company, which is now expected to be completed in the third quarter of 2026.”

Greg Peters, co-CEO of Netflix, frames this timeline as part of a long-term strategy, saying:

“This acquisition will strengthen our offering and accelerate our businesses for decades to come,” praising Warner Bros. as a studio that “has helped define entertainment for more than a century.”

He adds that Netflix’s “global reach and proven business model” will enable a broader audience to access the universes built by Warner’s creators and “create more value for shareholders.”

The head of Warner Bros. Discovery, David Zaslav, reiterates the message, describing Netflix and Warner Bros. as “two of the world’s largest storytelling companies” and saying that, “By partnering with Netflix, we will ensure people around the world continue to enjoy the most iconic stories for generations to come.”

This content was created with the help of AI.

Karla Miller

Karla Miller

founder and editor of this lifestyle media. Passionate about storytelling, trends, and all things beautiful, I created this space to share what inspires me every day. Here, you’ll find my curated take on style, wellness, culture, and the art of living well.