- Netflix will acquire Warner Bros. Discovery’s film and TV studios, HBO, and HBO Max for $72 billion. Major cable/networks (CNN, Discovery) are excluded and will spin off as Discovery Global.
- The deal is valued at $27.75 per Warner share, giving it a total enterprise value of $82.7 billion, including debt. The merger is expected to close in 12–18 months.
- Netflix will gain access to Warner Bros.’ century-old library, including franchises such as Harry Potter, Game of Thrones, and DC Comics films, to complement its originals like Stranger Things, Squid Game, and Kpop Demon Hunters.
- The merger is expected to face intense antitrust scrutiny in the U.S. and Europe because it joins two leading streaming rivals and concentrates valuable IP under one owner.
Netflix to Acquire Warner Bros. for $72 Billion
