Overview
- Netflix reached an agreement to acquire Warner Bros Discovery’s studios and streaming businesses, beating rival bids from Paramount Skydance and Comcast.
- Reported terms peg enterprise value near $82.7 billion, with WBD investors to receive roughly $27.75 per share in a mix of cash and Netflix stock.
- The U.S. Justice Department is preparing a broad investigation into Netflix’s market power, and regulatory clearance in multiple jurisdictions remains uncertain.
- Some outlets report a planned spin‑off of WBD’s major cable networks, including CNN, TBS and TNT, which would sit outside the acquired assets.
- Industry and political pushback is building, with filmmaker James Cameron criticizing the sale and the president reportedly preferring a Paramount-led deal.