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After a bidding war that reportedly also involved Paramount, Comcast, Amazon, and Apple, on December 5th, Netflix struck a deal to buy Warner Bros. for $82.7 billion, buying the studio, HBO / HBO Max, Warner Games, and more, while leaving cable and sports assets, including CNN, TNT Sports, and the Discovery channels out.
There are already questions and comments coming from politicians and regulators about the proposed acquisition, and you can follow along below for all of the latest updates as they come in.
The Writers Guild of America published a statement on the deal.
The world’s largest streaming company swallowing one of its biggest competitors is what antitrust laws were designed to prevent. The outcome would eliminate jobs, push down wages, worsen conditions for all entertainment workers, raise prices for consumers, and reduce the volume and diversity of content for all viewers. Industry workers along with the public are already impacted by only a few powerful companies maintaining tight control over what consumers can watch on television, on streaming, and in theaters. This merger must be blocked.
Netflix on its plans for WB’s theatrical slate:
Netflix expects to maintain Warner Bros.’ current operations and build on its strengths, including theatrical releases for films.
“Expects” is doing a lot of work there. But responding to an investor question about theatrical plans, Netflix co-CEO Ted Sarandos said:
I wouldn’t look at this as a change in approach for Netflix movies or for Warner movies for that matter.
THR published WBD CEO David Zaslav’s memo to staff about the Netflix acquisition.
WBD’s board of directors determined that “this structure – Warner Bros. joining Netflix, and Discovery Global becoming a focused standalone company – provides the strongest long-term foundation for both sets of businesses,” Zaslav says.
Netflix’s Warner Bros. deal includes Warner Bros. Games.
TweakTown says it has “received confirmation that Warner Bros.’ games studios, IP, and content will indeed be part of the transaction.”
Netflix is buying Warner Bros. for $83 billion
Image: The Verge
Netflix has announced that it’s struck a deal to acquire Warner Bros. for $82.7 billion. The purchase will go through after Warner Bros.’ planned split from Discovery, now expected to take place in Q3 2026. It will see the streamer acquire the Warner studio, both HBO and HBO Max, and access to IP, including Harry Potter, Game of Thrones, and DC Comics.
“Our mission has always been to entertain the world,” said Ted Sarandos, co-CEO of Netflix. “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.”
Netflix is reportedly looking into a bid for Warner Bros. Discovery
Illustration by Alex Castro / The Verge
Yet another rumor suggests that Netflix is interested in buying Warner Bros. Discovery’s studio and streaming businesses. On Friday, Reuters reported that Netflix is “actively exploring” a bid for the company and has hired a bank to look into a potential offer.
Sources tell Reuters that Netflix now has access to Warner Bros. Discovery’s “data room,” which the outlet says “contains the financial details needed to make a bid.” Last week, Bloomberg reported that Netflix, Amazon, and Apple are all considering purchasing parts or all of the company. Comcast co-CEO Mike Cavanagh has also left the door open to a potential deal.
Warner Bros. mergers never work, but they’re trying again anyway
Image: The Verge
Netflix, Amazon, and Apple are reportedly interested in buying Warner Bros.
Image: The Verge
Three of the rumored potential buyers for entertainment titan Warner Bros. Discovery are tech companies. Netflix, Amazon, and Apple are all interested in buying Warner Bros. Discovery as a whole or acquiring pieces of the company, like its content libraries and production assets, according to Bloomberg.
Earlier this week, Warner Bros. Discovery announced it was launching a “review of strategic alternatives to maximize shareholder value, in light of unsolicited interest the Company has received from multiple parties for both the entire company and Warner Bros.” According to the report, after receiving the above inquiries, as well as others from Paramount and Comcast, it’s readying nondisclosure agreements for the prospective buyers ahead of sharing financial data with them.
Warner Bros. Discovery is ready for a sale
Image: The Verge
Warner Bros. Discovery has finally said out loud what has been obvious for months now: it wants to be acquired by another entertainment megacorporation.
Today, WBD announced that it “has initiated a review of strategic alternatives to maximize shareholder value” — a roundabout way of saying that the company is open to the possibility of a massive acquisition deal with the right buyer. The news comes just months after WBD’s decision to split Warner Bros. and Discovery Global into two separate corporate entities tasked with running the company’s streaming and cable businesses
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