Overview
- Netflix will pay $27.75 per WBD share, valuing the company at about $72 billion excluding debt for a total consideration near $82.7 billion.
- The acquisition adds HBO Max and Warner Bros’ extensive film and TV catalog to Netflix, including franchises such as Harry Potter and DC and series like Friends and Game of Thrones.
- Netflix says Warner Bros operations will continue, including theatrical film releases, while it expands studio capacity and investments in original content.
- Warner Bros Discovery’s plan to split its streaming and studio divisions is expected to be completed by the third quarter of 2026 before the transaction closes.
- The deal followed competing bids from Paramount Skydance and Comcast, and U.S. officials have reportedly raised concerns that could intensify antitrust review.