Overview
- Netflix agreed to buy Warner Bros., including HBO and HBO Max, for about $82.7–83 billion after unanimous board approvals.
- The Justice Department has begun evaluating potential antitrust issues, with reports putting a combined Netflix–HBO Max share near 30% of the U.S. streaming market.
- President Donald Trump said he will participate in the approval decision, citing Netflix’s large market share and noting a recent Oval Office meeting with CEO Ted Sarandos.
- Hollywood guilds and unions, including the Writers Guild of America, are urging regulators to block the merger, warning of layoffs, lower wages and fewer buyers for content.
- If cleared, Netflix would gain Warner Bros. production assets, the HBO channel, the HBO Max service and extensive film and TV libraries, with closing not expected before Q3 2026.