Netflix and Warner Bros. Discovery (WBD) have announced a landmark agreement that will see Netflix acquire Warner Bros., including its iconic film and television studios, HBO Max and HBO, in a deal valued at $27.75 per WBD share. The cash-and-stock transaction carries an enterprise value of approximately $82.7 billion and is expected to close after WBD completes the previously announced separation of its Global Networks division, Discovery Global, now scheduled for Q3 2026. The merger unites Netflix’s global streaming dominance with Warner Bros.’ legendary century-long legacy in content creation.
The deal brings some of the world’s most beloved franchises and award-winning titles under one umbrella. Classics and modern hits such as The Big Bang Theory, The Sopranos, Game of Thrones, The Wizard of Oz and the DC Universe will join Netflix originals like Wednesday, Money Heist, Bridgerton, Adolescence and Extraction. Netflix co-CEOs Ted Sarandos and Greg Peters said the acquisition will expand creative possibilities, enhance subscriber options and strengthen the streaming giant’s position in the global entertainment ecosystem.
Warner Bros. Discovery CEO David Zaslav praised the merger as a monumental step in shaping the future of global storytelling, noting that combining both companies’ strengths will ensure generations of viewers continue to enjoy some of the world’s most influential stories. With this unprecedented consolidation of intellectual property, talent and production power, could this merger redefine the future of entertainment worldwide? Visit www.jocomms.com for more news stories.
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