Posted in: HBO, Max, Movies, Netflix, TV | Tagged: netflix, warner bros discovery

Netflix, Warner Bros. Discovery Make It Official with $82.7B Deal

Netflix and Warner Bros. Discovery have finalized a deal that sees the streamer buying WBD's studios and streaming service for $82.7 billion.

Following rumblings on Thursday night, Netflix and Warner Bros. Discovery (WBD) made it official on Friday morning. The streaming service is officially buying WBD's film and television studios, HBO Max, and HBO, for a total enterprise value of $82.7 billion. Netflix will pay $27.75 per share for the deal ($23.25 in cash and $4.50 in shares of Netflix common stock for WBD common stock shares). Netflix and WBD's boards voted "unanimously" to approve the deal, which will take place after WBD finalizes spinning off its global networks division, Discovery Global, during Q3 2026 (not by April 2026, as initially announced over the summer). Now the "fun" part… regulation investigations.

"Our mission has always been to entertain the world," said Ted Sarandos, co-CEO of Netflix, in a statement. "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."

"This acquisition will improve our offering and accelerate our business for decades to come," continued Greg Peters, co-CEO of Netflix. "Warner Bros. has helped define entertainment for more than a century and continues to do so with phenomenal creative executives and production capabilities. With our global reach and proven business model, we can introduce a broader audience to the worlds they create—giving our members more options, attracting more fans to our best-in-class streaming service, strengthening the entire entertainment industry and creating more value for shareholders."

"Today's announcement combines two of the greatest storytelling companies in the world to bring to even more people the entertainment they love to watch the most," said David Zaslav, President and CEO of Warner Bros. Discovery. "For more than a century, Warner Bros. has thrilled audiences, captured the world's attention, and shaped our culture. By coming together with Netflix, we will ensure people everywhere will continue to enjoy the world's most resonant stories for generations to come."

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