Netflix set to acquire Warner Bros in $83 Billion Deal

Netflix, Inc. and Warner Bros. Discovery, Inc. have signed a definitive agreement that will see Netflix acquire Warner Bros., including its film and television studios, as well as HBO and the HBO Max streaming platform.

The cash-and-stock deal values Warner Bros. Discovery at $27.75 per share, with an enterprise value estimated at $82.7 billion and an equity value of $72 billion. The acquisition is expected to be completed after WBD’s previously announced spinoff of its Global Networks division, Discovery Global, into a new publicly traded company. That separation is now projected for the third quarter of 2026.

The merger will unite Netflix’s global streaming dominance with Warner Bros.’ century-old reputation for premium storytelling. Iconic titles such as The Big Bang Theory, The Sopranos, Game of Thrones, The Wizard of Oz and the DC Universe will join Netflix’s catalogue, which includes hits like Wednesday, Money Heist, Bridgerton, Adolescence and Extraction. The companies say the combined library will create one of the most robust entertainment offerings available to audiences worldwide.


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