Netflix has announced an unprecedented plan to acquire Warner Bros. in an $82.7 billion mega-deal, positioning it to combine the world’s largest streaming service with one of Hollywood’s most legendary film studios, home to classics like Casablanca and blockbuster franchises such as Harry Potter.
According to Netflix, the acquisition is expected to close within 12 to 18 months and the timeline depends on Warner Bros. discovery completing a planned spin-off of its cable networks division, Discovery Global, a move projected to finish by the third quarter of 2026.
Under the agreement, Netflix will pay $27.75 per share, valuing Warner Bros.’ equity at roughly $72 billion and bringing the total enterprise value to $82.7 billion. Netflix also committed to honoring all current theatrical releases and distribution contracts tied to Warner Bros. films.
For Netflix, the deal signals a major strategic leap. Company leaders say acquiring Warner Bros. will significantly expand its content library, broaden its global footprint, and fuel long-term subscriber growth.
Co-CEO Greg Peters told investors that merging Netflix’s distribution strength with Warner Bros.’ creative assets would “drive billions in value over the coming decades.”
Industry analysts suggest the merger could reshape the streaming landscape by consolidating two massive entertainment ecosystems.
A unified platform could emerge—potentially blending Warner Bros. and HBO Max’s libraries with Netflix’s interface, recommendation tools, and advertising systems.
As news of the acquisition spread, Warner Bros. shares held steady, while Netflix stock dipped slightly in early trading.
If approved, the transaction would become one of the largest in entertainment history, poised to transform Hollywood and redefine global streaming competition.
