Netflix Seals Historic $72B Acquisition of Warner Bros Discovery
Netflix has announced a groundbreaking $72 billion acquisition of Warner Bros Discovery’s streaming and studio assets, marking one of the most significant entertainment mergers in history. The deal, valued at $27.75 per share with an enterprise value of $82.7 billion, will fuse Netflix’s global streaming platform with Warner Bros.’ legendary film and TV studios, HBO Max, and iconic properties including Harry Potter and DC Entertainment.
The acquisition comes on the heels of an intense bidding war involving Paramount Skydance and Comcast. The merger is set to amalgamate Netflix’s 300+ million subscribers with Warner’s premium content library and HBO’s 128 million subscribers, potentially creating a streaming colossus controlling over 40% of the global market. Netflix CEO Ted Sarandos stated this will bolster their mission “to entertain the world” by blending Warner’s classics like Casablanca and Citizen Kane with modern hits.
The transaction is projected to close in 12-18 months pending regulatory approvals. Significant antitrust scrutiny is anticipated given the combined companies’ market dominance.
Source: NBC News