Netflix's Monumental $72B Acquisition of Warner Bros. Hollywood's Streaming Empire Is Born!
Netflix has agreed to a monumental $72B deal to acquire Warner Bros. Discovery’s studios and HBO Max, effectively ending the streaming wars. However, the merger faces immediate, severe antitrust scrutiny from US regulators.
The acquisition of the HBO Max platform and iconic franchises like DC Comics gives Netflix control of a content behemoth, but sets up a fierce battle with Washington regulators.
In a seismic shift for entertainment, Netflix has sealed an $82.7 billion deal (equity value: $72 billion) to acquire Warner Bros. Discovery's film/TV studios and HBO Max streaming service, announced today (Dec 5, 2025). Outbidding rivals like Paramount Skydance and Comcast, Netflix gains control of treasures like Harry Potter, DC Comics, Game of Thrones, and The Matrix creating a content behemoth with unmatched global reach.
The cash-and-stock offer ($23.25 cash + $4.50 Netflix stock per share) follows WBD's planned spinoff of its cable assets (CNN, TNT) and includes pledges to keep theatrical releases alive, easing theater industry fears. Netflix co-CEO Ted Sarandos hailed it as "strengthening the industry" by boosting creator opportunities and consumer choice through bundled pricing and endless hits.
But antitrust watchdogs are circling could this mega-merger squash competition? Bank of America calls it a "game-changer," but Hollywood insiders warn of job cuts and creative consolidation. The deal eyes a mid-2026 close, pending approvals.
