What is the value of the Netflix-Warner Bros. Discovery deal?

The cash and stock transaction is valued at approximately $82.7 billion.

When is the Netflix acquisition of Warner Bros. expected to close?

The transaction is expected to close in 12-18 months, after WBD's Global Networks division separation in Q3 2026.

What are the concerns from the exhibition industry about Netflix buying Warner Bros.?

Cinema United fears the acquisition poses a threat to movie theaters, citing Netflix's streaming-centric business model.

Home / Business and Economy / Netflix Buys Warner Bros. in Blockbuster Deal

Netflix Buys Warner Bros. in Blockbuster Deal

5 Dec, 2025

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Summary

Netflix agreed to acquire Warner Bros. studio for $82.7 billion.
Deal includes Warner Bros. film/TV studios, HBO, and HBO Max.
Exhibition industry fears Netflix acquisition's impact on theaters.

Netflix Buys Warner Bros. in Blockbuster Deal

Netflix has announced a definitive agreement to acquire Warner Bros. Discovery, including its film and television studios, HBO, and HBO Max. This landmark transaction, valued at approximately $82.7 billion, is expected to finalize after Warner Bros. Discovery completes the separation of its Global Networks division in Q3 2026.

The merger aims to combine Netflix's global reach and streaming expertise with Warner Bros.' rich century-long legacy in entertainment. Key franchises and content from both entities, such as DC Universe, "Game of Thrones," and "Stranger Things," will be consolidated, promising a more robust offering for subscribers.

However, the deal has ignited concerns from the exhibition sector, with Cinema United president Michael O'Leary expressing fears of an unprecedented threat to movie theaters worldwide. Industry groups are urging regulators to scrutinize the transaction's potential negative impact on consumers and the broader entertainment landscape.