Netflix to Acquire Warner Bros. in $82.7 Billion Deal, Reshaping Entertainment Landscape
LOS ANGELES, CA – Netflix announced today a definitive agreement to acquire Warner Bros.Discovery in a deal valued at $82.7 billion, a move poised to dramatically reshape the global entertainment industry. the merger unites NetflixS expansive streaming reach with Warner Bros.’ iconic franchises and extensive content library, creating a media powerhouse with unprecedented scale.
The combined company will leverage Netflix’s subscriber base and technological infrastructure with Warner Bros.’ renowned intellectual property,including timeless classics like “Casablanca” and “Citizen Kane,” modern favorites such as “Harry Potter” and “Friends,” and a vast catalog of film and television assets. Netflix intends to integrate these properties alongside its own culture-defining titles like “Stranger Things,” “KPop Demon Hunters,” and “Squid Game.”
“Our mission has always been to entertain the world,” stated Ted Sarandos, co-CEO of Netflix, in a released statement. “By combining Warner Bros.’ remarkable library of shows and movies…with our culture-defining titles…we’ll be able to do that even better. Together, we can give audiences more of what they love and help define the next century of storytelling.”
Greg Peters, also co-CEO of Netflix, emphasized the strategic benefits of the acquisition. “Warner Bros. has helped define entertainment for more than a century…With our global reach and proven business model, we can introduce a broader audience to the worlds they create – giving our members more options, attracting more fans to our best-in-class streaming service, strengthening the entire entertainment industry and creating more value for shareholders.”
Warner Bros. Discovery CEO David Zaslav echoed these sentiments, stating, “Today’s announcement combines two of the greatest storytelling companies in the world to bring to even more people the entertainment they love to watch the moast…By coming together with Netflix, we will ensure people everywhere will continue to enjoy the world’s most resonant stories for generations to come.”
The deal also impacts Warner Bros. Discovery’s previously announced restructuring plans. Originally slated for completion in June 2025, the separation of WBD’s streaming and studios business (under the Warner Bros. banner) and its TV networks group (as discovery Global) is now expected to finalize in the third quarter of 2026, prior to the closing of the Netflix transaction. Discovery Global, led by current WBD CFO Gunnar Wiedenfels, will encompass properties including CNN, TNT Sports in the U.S., Discovery, free-to-air channels in Europe, and digital platforms like Discovery+ and Bleacher Report.
Notably, the announcement carries a layer of historical irony. Almost exactly 15 years ago, then-Time Warner chief jeff Bewkes publicly downplayed Netflix’s potential, famously dismissing the streaming service in a 2009 New York Times interview as “the albanian army,” questioning its ability to gain notable industry influence. Bewkes stated at the time, “It’s a little bit like, is the Albanian army going to take over the world?”
