Overview
- Netflix agreed to buy Warner Bros. Discovery’s studios and HBO/HBO Max for roughly $82–83 billion, with the TV networks to be spun off into a separate company called Discovery Global.
- President Trump said Netflix’s “very large market share” could pose a problem and that he will be involved in the antitrust review, as both companies brace for a 12–18 month approval process.
- Netflix leaders pledged to keep Warner films in cinemas with faster streaming availability, and hinted that access to HBO programming could become more affordable for subscribers.
- Reports say the merger agreement includes a multibillion-dollar reverse breakup fee of about $5–5.8 billion if regulators block the transaction.
- Netflix prevailed over rival bidders including Paramount and Comcast, prompting political crosscurrents and fresh warnings from filmmakers and exhibitors such as James Cameron about potential harm to theatrical cinema.