Netflix to buy WBD for $27.75B

The streaming giant has agreed to acquire Warner Bros. streaming and studio businesses, including HBO Max and HBO, for $82.7 billion. The deal now awaits regulators’ approval.

The move, if approved, would reshape Hollywood and create a global entertainment powerhouse.

Netflix said the combined libraries will give subscribers more premium content and help it optimize consumer plans. 

The deal brings Warner Bros.’ iconic franchises to Netflix’s global audience.

The streamer will get IPs like Harry Potter, The White Lotus, and The Game of Thrones.

However, the deal doesn’t include WBD’s cable TV channels.

Netflix said the merger will expand US production capacity, increase long-term investment in original content, and create more opportunities for creators by pairing Warner Bros.’ century-long storytelling legacy with its worldwide reach.

But
Several people in the industry are worried about the acquisition. Though Netflix has said it expects “to maintain Warner Bros.’ current operations and build on its strengths,” and to release movies in theaters, it is unknown how long they will be there.

The companies aim to close the transaction within 12–18 months, after WBD completes the 2026 spinoff of its TV networks group, Discovery Global. Both boards unanimously approved the agreement.