Entertainment
-Gaurav Sharma
Netflix
is
set
to
reshape
global
streaming
after
agreeing
an
$82.7
billion
takeover
of
Warner
Bros.
Discovery.
The
deal
puts
HBO,
DC
Entertainment
and
Warner
Bros.
film
and
TV
studios
under
Netflix
control.
For
viewers,
it
means
giant
franchises
like
Game
of
Thrones
and
Harry
Potter
finally
move
onto
Netflix.
The
agreement
also
pulls
together
worlds
such
as
Gotham
City
and
Westeros
with
Netflix
hits
like
Stranger
Things.
Once
the
transaction
closes,
subscribers
could
browse
HBO
dramas,
DC
blockbusters
and
classic
Warner
Bros.
titles
in
the
same
app.
For
many
young
Indian
viewers,
that
may
reduce
the
need
for
multiple
streaming
subscriptions.
Netflix
plans
to
acquire
Warner
Bros.
Discovery
for
$82.7
billion,
encompassing
HBO,
DC
Entertainment,
and
Warner
Bros.
studios,
which
includes
franchises
like
Game
of
Thrones
and
Harry
Potter,
with
an
expected
closing
in
Q3
2026
pending
regulatory
approval.
Netflix
Warner
Bros
Discovery
deal
financial
scale
Netflix
and
Warner
Bros.
Discovery
confirmed
they
have
entered
a
“definitive
agreement” that
both
boards
approved
unanimously.
An
SEC
filing
shows
the
transaction
carries
total
equity
value
of
$72
billion.
The
enterprise
value
reaches
$82.7
billion
after
including
Warner
Bros.
Discovery
debt
on
the
books.
Netflix
priced
Warner
Bros.
Discovery
shares
at
$27.75
each,
a
level
that
beat
rival
bidders.
Paramount
Skydance
and
Comcast’s
NBC
Universal
had
pushed
a
merger
plan
earlier
in
2025.
Netflix’s
offer
topped
those
proposals
and
secured
control
of
Warner
Bros.
Discovery’s
TV,
film
and
streaming
operations.
| Detail | Figure |
|---|---|
|
Equity value |
$72 billion |
|
Enterprise value |
$82.7 billion |
|
Share price offered |
$27.75 per share |
|
Expected closing period |
Q3 2026 |
The
merger
is
not
complete
yet,
as
regulators
must
clear
it
first.
Approval
from
the
U.S.
Securities
and
Exchange
Commission
is
still
required.
The
companies
expect
closing
after
Discovery
Global,
Warner
Bros.
Discovery’s
Global
Networks
business,
is
separated.
That
unit
is
planned
as
a
standalone
public
company
in
Q3
2026.
Netflix
Warner
Bros
Discovery
acquisition
content
shake-up
For
everyday
viewers,
the
biggest
difference
will
be
content
volume
and
range
on
Netflix.
HBO
originals
like
Game
of
Thrones,
The
Last
of
Us
and
Succession
are
expected
to
sit
alongside
Harry
Potter
films
and
The
Dark
Knight
trilogy.
The
wider
DC
Comics
catalogue
could
also
stream
next
to
Bridgerton
and
other
Netflix
originals.
Netflix
has
said
it
plans
to
“maintain
Warner
Bros.’
current
operations
and
build
on
its
strengths,
including
theatrical
releases
for
films.” That
suggests
cinema
premieres
will
continue
for
major
Warner
Bros.
titles.
However,
movies
may
land
on
Netflix
sooner
after
their
big-screen
run,
tightening
the
window
between
theatres
and
streaming.
The
company
has
described
HBO
and
HBO
Max
programming
as
a
“compelling,
complementary
offering”
for
its
subscriber
base.
Executives
have
hinted
that
content
libraries
may
be
bundled
or
integrated.
This
could
involve
refreshed
plans
or
new
subscription
tiers
that
mix
Netflix
originals
with
HBO
series
and
Warner
Bros.
Discovery
back
catalogue.
Netflix
stated,
“By
adding
the
deep
film
and
TV
libraries
of
HBO
and
HBO
Max,
Netflix
members
will
have
even
more
high-quality
titles
from
which
to
choose,” in
an
official
press
release.
The
streamer
also
expects
the
acquisition
to
support
new
productions
while
handling
existing
Warner
Bros.
franchises
under
one
wider
content
strategy.
Netflix
Warner
Bros
Discovery
acquisition
impact
on
industry
Netflix
co-CEO
Ted
Sarandos
called
the
agreement
a
key
milestone
for
the
entertainment
business.
“Our
mission
has
always
been
to
entertain
the
world.
Together,
we
can
give
audiences
more
of
what
they
love
and
help
define
the
next
century
of
storytelling.”
Co-CEO
Greg
Peters
said
the
move
“will
improve
our
offering
and
accelerate
our
business
for
decades
to
come.”
Warner
Bros.
Discovery
CEO
David
Zaslav
framed
the
transaction
as
a
creative
partnership
between
major
studios.
“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
most.”
The
deal
follows
a
difficult
period
for
Warner
Bros.
Discovery,
which
faced
heavy
debt
and
fierce
streaming
competition.
For
Netflix,
the
takeover
strengthens
its
role
as
a
one-stop
hub
for
big-name
franchises.
The
streamer
gains
access
to
Warner
Bros.
Discovery
libraries
while
adding
capacity
to
create
fresh
original
shows
and
films.
With
HBO
prestige
series,
Warner
Bros.
history
and
Netflix’s
international
reach
together,
the
shape
of
streaming
entertainment
is
set
to
change
for
years.
Once
regulators
sign
off
and
the
structure
with
Discovery
Global
is
complete,
audiences
will
see
the
real
impact.
For
now,
one
thing
is
clear
for
fans
across
India
and
worldwide.
Game
of
Thrones
and
Harry
Potter
are
finally
headed
to
Netflix,
signalling
a
new
phase
for
how
people
watch
major
franchises
at
home.
