Netflix to Acquire Warner Bros.: $83 Billion Deal Redefines the Future of Streaming
Los Angeles / New York, December 5, 2025 | Prime Headlines
In what may be the biggest shake-up in modern entertainment history, Netflix has agreed to acquire Warner Bros. Discovery’s film and television studio — along with its premium streaming service HBO Max and associated media assets — for a total enterprise value of ≈ $82.7 billion (equity value ≈ $72 billion).
🎬 What the Deal Includes
The classic studio behind legendary film and TV franchises.
The full HBO premium catalogue and HBO Max streaming business.
Massive intellectual-property portfolios — including blockbuster film series, DC Comics films, Game of Thrones, Harry Potter, and much more.
Netflix emerges as the top bidder, outpacing other major contenders such as Paramount Skydance and Comcast. The deal is structured as a mix of cash and stock (at $27.75 per WBD share), and will take effect after Warner Bros. Discovery completes the planned spin-off of its cable-network business by Q3 2026.
📺 What This Means for Viewers — and the Industry
Netflix’s content library just got a massive upgrade — a combined catalogue of classics and modern hits that may redefine what “streaming value” looks like globally.
The acquisition allows Netflix to integrate theatrical film releases with streaming — potentially changing how new movies are distributed worldwide.
Reduced competition: With two of the world’s biggest streaming players now united, critics warn this may limit viewer choices and give Netflix large leverage over pricing and licensing.
Netflix calls this a historic milestone — one that will “help define the next century of storytelling.” But regulators in the U.S. and Europe are expected to scrutinize the deal for antitrust issues.
