Netflix to buy Warner Bros worth $82.7B

Netflix has agreed to acquire Warner Bros.’ film studio, HBO/HBO Max streaming, and other assets from Warner Bros. Discovery in a cash‑and‑stock deal valuing the business at about 72 billion dollars in equity and 82.7 billion dollars including debt.

The transaction covers Warner Bros.’ movie and TV studio, HBO and HBO Max, and Warner Bros. Games, while Discovery’s global TV networks will be spun off separately before closing.

Warner Bros. Discovery shareholders are set to receive a mix of cash and Netflix stock per WBD share, and both companies’ boards have unanimously approved the deal, which still needs regulatory and shareholder approvals and is expected to take 12–18 months to close.

The acquisition gives Netflix control of major franchises such as Harry Potter, the DC Universe, Game of Thrones, and a huge collection of classic film and TV library.