Netflix to Acquire Warner Bros.

[NateDog]

https://about.netflix.com/en/news/netflix-to-acquire-warner-bros

HOLLYWOOD, Calif., Dec. 5, 2025 -- Today, Netflix, Inc. (the Company) and Warner Bros. Discovery, Inc. (WBD) announced they have entered into a definitive agreement under which Netflix will acquire Warner Bros., including its film and television studios, HBO Max and HBO.

The cash and stock transaction is valued at $27.75 per WBD share (subject to a collar as detailed below), with a total enterprise value of approximately $82.7 billion (equity value of $72.0 billion). The transaction is expected to close after the previously announced separation of WBD's Global Networks division, Discovery Global, into a new publicly-traded company, which is now expected to be completed in Q3 2026.

This acquisition brings together two pioneering entertainment businesses, combining Netflix's innovation, global reach and best-in-class streaming service with Warner Bros.' century-long legacy of world-class storytelling. Beloved franchises, shows and movies such as The Big Bang Theory, The Sopranos, Game of Thrones, The Wizard of Oz and the DC Universe will join Netflix's extensive portfolio including Wednesday, Money Heist, Bridgerton, Adolescence and Extraction, creating an extraordinary entertainment offering for audiences worldwide.

"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. 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."

Netflix “Expects” to Keep Releasing Warner Bros. Films Theatrically

Now that that’s settled...

www.hollywoodreporter.com

"I wouldn't look at this as a change in approach for Netflix movies — or for Warner movies for that matter. I think over time, I think the windows will evolve to be much more consumer friendly, to be able to meet the audience where they are, quicker," he said. "All those things I'd like to do, but I'd say right now, you should count on everything that is planned on going to the theater through Warner Bros. will continue to go to the theaters through Warner Brothers. And Netflix movies will take the same strides they have, which is, some of them do have a short run in the theater beforehand, but our primary goal is to bring first-run movies to our members, because that's what they're looking for."

Variety have said that the suggestion is for theatrical windows as short as 2 weeks.

I don't like the sounds of any of this.

 

[MM3]

Both sides are extremely biased now, the left is just more vile and hateful.

View attachment 611881

CNN trash are already peeing their pants.
Either way it's much better, than CrapFlix streaming everything 3 days after theatrical, or even simultaneously. It's more theatrical releases, more physical releases, and less 'woke message' stuffed down everyone's throats.

The left is more vile than the right? That's laughable. Is that why Trump only has an approval rating of 37% after one year into his second term? The Ellison's are shills for a foreign country that is an arbitrator of genocide and endless wars, which the US government is more than happy to go along with after being bought off.

 

[MM3]

The current media landscape is not exactly unbiased or somehow allergic to censorship, quite the opposite. For some reason most people always go "my side doesn't do it, it's always the others who lie more" even though every single news show today is propaganda and basically rage bait masked as news or late night comedy. The important step is realizing that it's happening on both sides equally, even if you agree with what's being said with one more than the other. That's just the nature of the game now unfortunately, division and making people hate each other. If this aquisition will go through it will only change the political drift certain "news" shows might have, it's not going to somehow poison the nature of news media, it's already at an historic low when it comes to audience trust. The only thing that's going to change is that you might not like some of the things being said under Paramount as much, just like the other 50+% of the population didn't like what was being said on those channels before. It's gonna be the same old game and actual news that truly informs the audience has not been a main focus for quite some time.

Supporting more bias does not solve the problem. Two wrongs don't make a right. That's aside from the leadership at Paramount being foreign agents.

 

[jcm]

Consolidation is bad for competition, creativity, and the entertainment industry as a whole. Fewer players mean less risk taking, more formulaic content, and reduced variety. If Netflix had won the bidding war instead, it would have been worse for movie theaters and physical media, as they would likely shifted away from theatrical releases and blu rays to drive traffic to their streaming platform. The acquisition combines several huge intellectual properties but the current health of many of these franchises remains in doubt, with ongoing resets, delays, and questions about consistent performance. I’m worried it could spell the end for HBO as a distinct, prestige brand in the name of cost cutting and streaming integration into Paramount+. What appears to be significantly overpriced, saddling the combined entity with massive debt and integration challenges that could strain its finances and force drastic cost cutting. Whose to say that this could eventually force Paramount itself to be put up for sale in the coming years resulting in further industry consolidation.

 

[Lenny Nero]

The left is more vile than the right? That's laughable.

Yeah, only the left keeps laughing and wishing death upon anyone and anything they don't agree with.
I guess that's how acceptance and inclusiveness works.

I’m worried it could spell the end for HBO as a distinct, prestige brand

I think HBO lost its face long ago, last great original shows being Boardwalk Empire and Silicon Valley 10 years ago.
Maybe Succession from 2018, but it's for a too particular a taste.

 

[jcm]

I think HBO lost its face long ago, last great original shows being Boardwalk Empire and Silicon Valley 10 years ago.
Maybe Succession from 2018, but it's for a too particular a taste.

While HBO hasn’t had the consistency it once did, but I can’t discount they have produced some excellent offerings over the last few years. Yeah, they have definitely not stuck the landing on some shows that started off great but I would rather get some great shows rather than nothing. Here are a few that come to mind.
2026:
A Knight of the Seven Kingdoms
2025:
The Pitt
2024:
The Penguin
2023:
The Last of US (season 1)
2022:
House of the Dragon
2019:
Chernobyl

 

[larson1977]

I just Love the outcome or this

 

[larson1977]

Both sides are extremely biased now, the left is just more vile and hateful.

View attachment 611881

CNN trash are already peeing their pants.
Either way it's much better, than CrapFlix streaming everything 3 days after theatrical, or even simultaneously. It's more theatrical releases, more physical releases, and less 'woke message' stuffed down everyone's throats.

The left is more vile than the right? That's laughable. Is that why Trump only has an approval rating of 37% after one year into his second term? The Ellison's are shills for a foreign country that is an arbitrator of genocide and endless wars, which the US government is more than happy to go along with after being bought off.

No politics please...

 

[MM3]

I just Love the outcome or this

In 2022, when AT&T sold WarnerMedia to Discovery, HBO was losing over 2 billion a year. After owning it for a few years, Discovery is also losing big money. Some insiders have stated that Netflix was never serious, at least not now, at buying Warner Bros / HBO / etc. Some think they are playing the long game - hoping to eventually buy Warner Bros/HBO at a big discount assuming David Ellison can't somehow make this expensive acquisition profitable. If you look at CBS News, for example, David Ellison and Bari Weiss have effectively run it into the ground as ratings continue to plummet and news members keep quitting. Some believe Netflix intentionally made Paramount pay more money in an attempt to sabotage them with excessive debt. Paramount Skydance already has 14 billion in debt. And on top of that, Paramount will cover Netflix's 2.8 billion breakup fee, so that's almost 3 billion in free money for Netflix. Paramount+ has also proven to be an unsustainable money pit for Paramount Skydance. Only time will tell what will actually happen, but it doesn't exactly look good for Paramount Skydance. If we're objective, the sale of Warner Bros Discovery should be seen as a losing situation for all consumers. Additonally, the marger isn't a given since it's needs to survive many lawsuits and any potential blocks from regulators. I've included a link to the best article I could find that does an excellent job summing up all the important details:

The Warner Bros. Sale Is Even Worse Than It Looks

 

[NateDog]

In 2022, when AT&T sold WarnerMedia to Discovery, HBO was losing over 2 billion a year. After owning it for a few years, Discovery is also losing big money. Some insiders have stated that Netflix was never serious, at least not now, at buying Warner Bros / HBO / etc. Some think they are playing the long game - hoping to eventually buy Warner Bros/HBO at a big discount assuming David Ellison can't somehow make this expensive acquisition profitable. If you look at CBS News, for example, David Ellison and Bari Weiss have effectively run it into the ground as ratings continue to plummet and news members keep quitting. Some believe Netflix intentionally made Paramount pay more money in an attempt to sabotage them with excessive debt. Paramount Skydance already has 14 billion in debt. And on top of that, Paramount will cover Netflix's 2.8 billion breakup fee, so that's almost 3 billion in free money for Netflix. Paramount+ has also proven to be an unsustainable money pit for Paramount Skydance. Only time will tell what will actually happen, but it doesn't exactly look good for Paramount Skydance. If we're objective, the sale of Warner Bros Discovery should be seen as a losing situation for all consumers. Additonally, the marger isn't a given since it's needs to survive many lawsuits and any potential blocks from regulators. I've included a link to the best article I could find that does an excellent job summing up all the important details:

The Warner Bros. Sale Is Even Worse Than It Looks

Given the people behind Paramount and the fact that it isn't a player of any sort of similar significance of Netflix outside of The Americas, I feel like there will be very little pushback on this move legally. I've seen a few people saying the likelihood is that James Gunn's DCU plans will be dead in the water once this is eventually confirmed. Wonder what it'll mean for the future of Batman. Probably should feel glad Villeneuve's Dune trilogy will be out of the way before this can be of any impact with that at least.

 

[Lenny Nero]

'They' can always print more money, and 'borrow' it against their IPs. Rich people never lose.