Netflix has announced a significant acquisition, entering a definitive agreement to purchase Warner Bros. for approximately $83 billion. This deal includes Warner Bros.’ film and television studios, as well as its streaming services, HBO Max and HBO. The announcement was made in a statement released on Friday morning.
The merger aims to unite two influential entertainment entities, showcasing Netflix’s innovative streaming capabilities alongside Warner Bros.’ rich history of storytelling. In the statement, Netflix highlighted that this acquisition will enhance its content offerings by incorporating beloved franchises such as The Big Bang Theory, The Sopranos, Game of Thrones, The Wizard of Oz, and the DC Universe. These will join Netflix’s existing portfolio, which includes popular titles like Wednesday, Money Heist, Bridgerton, Adolescence, and Extraction.
Ted Sarandos, co-CEO of Netflix, stated, “Our mission has always been to entertain the world. By combining Warner Bros.’ incredible library of shows and movies—from timeless classics like Casablanca and Citizen Kane to modern favorites like Harry Potter and Friends—with our culture-defining titles like Stranger Things, KPop Demon Hunters, and Squid Game, we’ll be able to do that even better.” He emphasized that together, the two companies can provide audiences with more of what they love and play a significant role in shaping the future of storytelling.
The transaction, characterized as a cash and stock deal, has a total enterprise value of approximately $82.7 billion and an equity value of $72 billion. The completion of this acquisition is anticipated to occur following the previously announced separation of Warner Bros. Discovery’s Global Networks division, which is expected to form a new publicly traded company by the third quarter of 2026.
This merger represents a pivotal moment in the entertainment industry, as it consolidates a wealth of content under Netflix’s umbrella. The combination of established franchises and innovative programming is poised to create a formidable presence in the competitive streaming landscape, appealing to a diverse global audience.
