Overview
- Terms set the enterprise value near $82.7 billion, paying WBD holders $23.25 in cash plus $4.50 in Netflix stock per share, with closing targeted in 12–18 months after a Discovery Global spin‑off.
- Entertainment unions including the WGA, DGA and SAG‑AFTRA urged regulators to block the acquisition, warning of job losses, lower pay and reduced content diversity, while Senator Elizabeth Warren called it an antitrust nightmare.
- President Donald Trump voiced concern that the tie‑up could be a problem, and a report cited White House skepticism, signaling potential headwinds for U.S. approval processes.
- Paramount and Skydance, which say they offered more, alleged the sale favored Netflix and are weighing formal challenges over conflicts in the process.
- Netflix told subscribers there will be no immediate changes and that both services will run independently for now, while executives said planned theatrical releases from Warner Bros. would continue; Netflix shares slipped about 2.9% as WBD rose more than 6% following the announcement.