In a blockbuster move that could reshape global entertainment, Netflix has announced plans to acquire Warner Bros. Discovery (WBD) in a deal valued at $82.7 billion. The merger one of the largest in media history– will need approval from US antitrust regulators given the massive scale of both companies.
Netflix said the deal will fuse its global streaming dominance with Warner Bros.’ century-old legacy of filmmaking, bringing together brands ranging from HBO and DC Studios to classics like Casablanca, The Wizard of Oz, Bonnie and Clyde and Chariots of Fire.
“This acquisition brings together two pioneering entertainment businesses,” Netflix said, calling it a union of its innovation and global reach with Warner’s storytelling heritage, foreign media reported. WBD CEO David Zaslav said the merger would help preserve and expand the reach of “the world’s most resonant stories for generations to come.”
Deal structure and what’s excluded
The transaction, priced at $27.75 per WBD share, is expected to close within 12–18 months. Before the merger completes, WBD will spin off its cable networks including CNN, TNT and Discovery, which are not part of the sale. Netflix reportedly beat out rivals Comcast and Paramount for the takeover.
What it means for streaming
The deal raises a major question: will Netflix and HBO Max remain separate platforms or combine into one mega-service? Analysts say either outcome could reshape pricing and reduce subscription fatigue for consumers increasingly juggling multiple streaming bills.
However, critics warn the merger could result in job cuts and narrower content diversity as two of the industry’s biggest players consolidate. Netflix has also committed to maintaining theatrical releases for Warner Bros. movies, a shift from its largely streaming-first approach.
Both companies have significant presence in India. Netflix has over 12.4 million Indian subscribers, while Warner Bros.’ films have been staples in cinemas. WBD has also been expanding its Bollywood footprint through local partnerships and adaptations.
