Netflix Triumphs in Warner Bros. Bidding War with a Whopping $82.7B Deal
Netflix has emerged victorious in a fierce bidding war, securing Warner Bros. Discovery’s studio and streaming assets in a landmark $82.7 billion deal that will reshape the entertainment landscape forever.
The streaming giant will pay $27.75 per share in a mix of cash and stock for Warner Bros.’ film and television studios, HBO, and HBO Max, following WBD’s planned separation from its cable networks division. The acquisition brings iconic franchises including “Harry Potter,” “Game of Thrones,” “Friends,” and the DC Universe under Netflix’s umbrella.
“By combining Warner Bros.’ incredible library of shows and movies with our culture-defining titles like Stranger Things and Squid Game, we’ll be able to entertain the world even better,” said Netflix co-CEO Ted Sarandos. The deal includes a substantial $5.8 billion breakup fee, demonstrating Netflix’s commitment to completing the transaction despite expected regulatory scrutiny.
Netflix defeated rival bids from Paramount Skydance and Comcast in the three-round auction process. The acquisition marks a dramatic strategic shift for Netflix, which has historically focused on building original content rather than major acquisitions.
The deal is expected to close in late 2026 or early 2027, subject to regulatory approval. Analysts predict the combined entity will create a “streaming powerhouse” with unmatched global reach and content library depth.
Source: https://about.netflix.com/en/news/netflix-to-acquire-warner-bros