Netflix to acquire Warner Bros. studio and streaming business
NEW YORK — Netflix has reached a deal with Warner Bros. Discovery to buy the studios and streaming activities of the Hollywood giant for $72 billion.
The acquisition, announced Friday, would bring together two of the biggest players in the film and television industry under one roof. Beyond its eponymous television and film division, Warner owns HBO Max and DC Studios. And Netflix has become dominant as a ubiquitous household name in on-demand content, while also creating its own production arm to release popular titles like “Stranger Things” and “Squid Game.”
The cash-and-stock deal is valued at $27.75 per Warner share, giving it a total enterprise value of about $82.7 billion. The transaction is expected to be completed after Warner spins off its Discovery Global cable business into a new publicly traded company in the third quarter of 2026.
