Overview
- Netflix will pay $27.75 per share, valuing Warner Bros Discovery at about $72 billion excluding debt.
- The acquisition adds HBO Max and Warner Bros’ extensive film and TV library to Netflix’s portfolio.
- It is described as the largest U.S. entertainment consolidation since Disney’s $71 billion purchase of Fox in 2019.
- Paramount Skydance and Comcast also pursued WBD, but Netflix emerged with the highest bid.
- In premarket trading, Netflix shares fell about 2.6% and WBD rose roughly 1.2%, as reports cited White House concern over potential market dominance.