Netflix has struck a transformative deal to accumulate Warner Bros. studios, HBO, and HBO Max from Warner Bros. Discovery (WBD) in a cash-and-stock transaction valued at $82.7 billion.
The transfer catapults Netflix right into a content material powerhouse, mixing its streaming dominance with Warner’s storied Hollywood legacy.
Introduced Friday, the settlement values WBD shares at $27.75 every, with an fairness worth of $72 billion. It hinges on WBD first spinning off its International Networks division, together with CNN, TNT Sports activities, and Discovery+, right into a separate public firm by Q3 2026.
Netflix plans to protect Warner Bros.’ operations, together with theatrical releases, whereas integrating its huge libraries.
Ted Sarandos, co-CEO of Netflix, hailed the union as a storytelling revolution. “By combining Warner Bros.’ unbelievable library from timeless classics like Casablanca and Citizen Kane to trendy favorites like Harry Potter and Mates with our culture-defining titles like Stranger Issues and Squid Sport, we’ll give audiences extra of what they love,” he stated.
Co-CEO Greg Peters emphasised progress. “Warner Bros. has outlined leisure for a century. With our international attain, we’ll introduce broader audiences to their worlds, attracting extra followers and strengthening the business.”
David Zaslav, WBD’s president and CEO, celebrated the synergy. “This combines two of the best storytelling firms to deliver resonant tales to generations.”
The merger unites icons like Sport of Thrones, The Sopranos, and the DC Universe with Netflix hits equivalent to Wednesday and Bridgerton. Customers acquire deeper libraries and optimized plans, whereas creators entry international audiences and IP.
Netflix forecasts $2-3 billion in annual value financial savings by 12 months three, accretive earnings by 12 months two, and boosted U.S. manufacturing jobs.
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