Netflix has announced plans to acquire Warner Bros. in a historic deal valued at $82.7 billion.
This acquisition will bring together the world’s largest streaming platform and one of Hollywood’s most iconic studios, known for classics like Casablanca and popular franchises such as Harry Potter.
The transaction is expected to close within 12 to 18 months, following Warner Bros. Discovery’s planned spin-off of its cable networks division, Discovery Global, which is anticipated to be completed by the third quarter of 2026.
Netflix will pay $27.75 per share, bringing the equity portion of the deal to $72 billion, with a total enterprise value of $82.7 billion. The company has also committed to honouring all existing theatrical and distribution agreements for Warner Bros.’ films.
For Netflix, this acquisition represents a significant strategic expansion. Executives believe the deal will enhance their content library, expand their global reach, and accelerate subscriber growth.
Co-CEO Greg Peters stated that combining Netflix’s distribution capabilities with Warner Bros.’ creative assets will “drive billions in value over the coming decades.”
Analysts suggest that the merger could reshape the global streaming landscape by integrating two major content ecosystems. This may involve merging Warner Bros. and HBO Max’s libraries into a single Netflix-led platform, simplifying access with a unified login, improved discovery tools, and integrated advertising systems.
As speculation about the merger grows and the integration process begins, Warner Bros. shares have remained stable, while Netflix’s stock dipped slightly in early trading.