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Popular streaming company Netflix and Warner Bros. Discovery announced that they have entered into a definitive agreement under which Netflix will acquire Warner Bros., including its film and television studios, HBO Max and HBO.
The cash and stock transaction is valued at $27.75 per WBD share, with a total enterprise value of approximately $82.7 billion.
The transaction is expected to close following the previously announced spin-off of WBD's Global Networks division, Discovery Global, into a new publicly traded company, which is now expected to be completed in the third quarter of 2026.
This acquisition brings together two pioneering entertainment businesses, combining Netflix's innovation, global reach and best-in-class streaming service with Warner Bros.'s centuries-old legacy of world-class storytelling.
“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’s Demon Hunters and Squid Game, we’ll be able to do that even better. Together, we can give audiences more of what they want and help define the next century of storytelling. This acquisition will enhance our offering and accelerate our business for decades to come. Warner Bros. has helped define entertainment for more than a century and continues to do so with phenomenal creative leaders and production capabilities. With our global reach and proven business model, we can introduce a wider audience to the worlds they create—giving our members more options, attracting more fans to our service, and " ...to improve the quality of broadcasting, strengthening the entire entertainment industry and creating more value for shareholders," the company said in a statement./CNA
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