Netflix acquires Warner Bros. for $82.7 billion

Netflix and Warner Bros. Discovery have announced a deal under which Netflix will acquire Warner Bros.’ studio and content business, including HBO and HBO Max. The assets are valued at approximately $82.7 billion.

The merger will give Netflix access to Warner Bros.’ extensive library of iconic franchises, such as Game of Thrones, Harry Potter, and DC Comics, as well as its production facilities. “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. Together, we can give audiences more of what they love and help define the next century of storytelling,” said Netflix co-CEO Ted Sarandos.

The deal is expected to close within 12–18 months after receiving the necessary regulatory approvals and shareholder consent from Warner Bros. Discovery. Netflix plans to maintain the current operations of the acquired studio, including theatrical releases. The company also expects annual cost savings of $2–3 billion as a result of the transaction.

By Vugar Khalilov