Netflix to Acquire Warner Bros. Discover for $83 Billion

Netflix has announced an agreement to acquire Warner Bros. Discovery (WBD) — including its iconic film and television studios and premium streaming platforms — in a massive deal valued at approximately US $82.7–83 billion. 

The move marks one of the biggest consolidations in entertainment history, creating a combined media powerhouse. 

The transaction values WBD at US $27.75 per share, with total equity valued at about US $72.0 billion. When including debt and liabilities, the enterprise value reaches around US $82.7 billion. 

The deal still requires regulatory approval and is expected to conclude 12–18 months after the planned spin-off of WBD’s cable-networks division (Discovery Global), anticipated by Q3 2026. 

What Netflix Gains — A Storied Library and More

With the acquisition, Netflix inherits WBD’s extensive content library: from timeless classics to blockbuster franchises and hit TV series. The deal gives Netflix access to rights for celebrated properties, including Game of Thrones, Harry Potter, the DC Comics universe, The Sopranos, and many more. 

More than that, Netflix now gains control over Warner Bros.’ film and television studios, and its premium streaming services (including HBO Max and HBO). The acquisition promises to significantly expand Netflix’s production capacity, content output, and global footprint. 

Industry Shake-Up: Why This Matters

This deal represents the largest entertainment merger since The Walt Disney Company’s takeover of 21st Century Fox in 2019 — a major shift signaling consolidation in the streaming era. 

With Netflix combining its innovation and global reach with Warner Bros.’ century-long legacy of storytelling, the balance of power in Hollywood is poised to change substantially. 

For viewers, the merger may mean a dramatic expansion of Netflix’s catalogue — potentially bringing beloved classics and blockbuster franchises under one roof. For creators and industry professionals, the combined resources could yield more ambitious productions, robust distribution, and broader creative opportunities. 

What’s Next: Timeline and Regulatory Hurdles

Under the agreement, WBD’s “Global Networks” (cable TV, news, sports channels) will be spun off into a separate publicly traded company — Discovery Global — before the acquisition closes.

Netflix and WBD expect the full transaction to complete within the next 12–18 months, pending regulatory and shareholder approvals. 

However, the unprecedented size and impact of the deal mean antitrust regulators — especially in the U.S. and Europe — may conduct scrutiny before granting clearance. If approved, this merger could reshape the global entertainment landscape for years to come.