Netflix To Acquire Warner Bros. Discovery In Landmark $80bn Deal

Netflix has announced plans to acquire Warner Bros. Discovery in a landmark agreement valued at more than $80 billion, setting the stage for one of the biggest shake-ups the global entertainment industry has seen in years.

The deal, unveiled on Friday, combines two of Hollywood’s most influential content powerhouses. For Netflix, the acquisition delivers a vast library of classic and modern titles, from Casablanca and Citizen Kane to Game of Thrones, The Sopranos, and the Harry Potter franchise, as well as full ownership of the premium streaming service HBO Max.

Netflix co-CEO Ted Sarandos described the merger as an opportunity to expand the company’s creative footprint. “Together, we can give audiences more of what they love and help define the next century of storytelling,” he said, adding that the company is focused on preserving the legacy of the Warner Bros brand while strengthening Netflix’s reach.

Warner Bros. Discovery is valued at $27.75 per share under the agreement, giving the deal an equity valuation of about $72 billion and an enterprise value nearing $83 billion. The company’s stock had closed at $24.54 the previous day.

David Zaslav, CEO of Warner Bros. Discovery, called the announcement a union of two global storytelling brands. The boards of both companies approved the transaction unanimously, and completion is expected within 12 to 18 months.

Concerns Over Monopoly And Regulatory Scrutiny

Industry analysts say the merger could redefine the entertainment landscape, but not without potential roadblocks. Kathleen Brooks, research director at XTB, warned that an acquisition of this scale raises concerns about market dominance, especially in streaming and film production. She noted that regulatory agencies in the U.S. and other markets are expected to examine the deal closely for antitrust risks.

“Netflix aims to dominate Hollywood,” she said, adding that consolidating such extensive libraries and distribution networks under one company could fuel worries about reduced competition and limited theatrical releases.

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Warner Bros. Discovery had officially put itself up for sale in October after receiving multiple unsolicited offers. Paramount, now under the control of a tech billionaire family following a recent acquisition, initially expressed interest, while Comcast and Skydance Media reportedly explored their own bids. Bloomberg reports indicate that Netflix secured a bridge loan worth tens of billions of dollars to finance the takeover.

Despite excitement over the merger, not everyone in Hollywood is celebrating. Director James Cameron, speaking prior to the official announcement, cautioned that the industry could suffer under a single dominant streaming platform, calling a Netflix takeover of Warner Bros “a disaster.”

If approved, the merger will become the largest entertainment acquisition since Disney bought Fox for $71 billion in 2019, potentially reshaping global content creation, film distribution, and streaming competition for years to come.