Netflix to Acquire Warner Bros. Film and Streaming Businesses in $82.7 Billion Deal

In a landmark move set to reshape the global entertainment industry, Netflix has announced plans to acquire Warner Bros. Discovery’s film and streaming businesses in a deal valued at $82.7 billion. The acquisition, revealed in December 2025, marks one of the largest mergers in media history.

Deal Structure

Valuation: The transaction is worth $82.7 billion, with an equity valuation of $72 billion.

Assets Included: Netflix will gain control of Warner Bros.’ legendary film and TV studios, HBO, HBO Max, and DC Entertainment.

Exclusions: Linear-TV channels such as CNN, TNT, and Discovery will be spun off into a separate company, Discovery Global, and are not part of the deal.

Timeline: The acquisition is expected to close within 12–18 months, pending regulatory approvals.

Strategic Impact

Content Expansion: Netflix will inherit Warner Bros.’ vast catalogue, including franchises like Harry Potter, Game of Thrones, and DC Comics.

Streaming Dominance: By combining Warner Bros.’ premium content with Netflix’s global reach, the merger positions Netflix as the most powerful player in the streaming industry.

Industry Shake-Up: The deal follows months of speculation and a bidding war involving Comcast and Paramount Skydance, with Netflix ultimately emerging as the winner.

Implications for Viewers and Creators

Viewers: Expect iconic Warner Bros. and HBO titles to arrive on Netflix, reshaping the streaming landscape.

Creators: The merger promises bigger budgets, wider distribution, and more opportunities for collaboration.

Competition: Rivals like Disney+, Amazon Prime Video, and Apple TV+ will face intensified pressure to innovate and expand their libraries.

Analysts describe the acquisition as a game-changer for Netflix, which has long sought to diversify beyond original productions. By absorbing Warner Bros.’ content powerhouse, Netflix strengthens its position against competitors while setting a new precedent for consolidation in the entertainment sector.

Netflix’s $82.7 billion acquisition of Warner Bros. Discovery’s film and streaming businesses is poised to redefine global entertainment. With Warner Bros.’ legendary content joining Netflix’s massive subscriber base, the deal creates a powerhouse that could dominate the next era of streaming.