Netflix agreed a $72 billion deal to buy Warner Bros. Discovery (WBD) for a merger which would unite the streaming service pioneer with one of the biggest traditional movie and television studios.<\/p>\n\n\n\n
Under terms of the deal, WBD shareholders will receive $27.75 a share in cash and stock in Netflix for an enterprise value of approximately $82.7 billon.<\/p>\n\n\n\n
The deal is slated to close following the separation of Warner Bros Discovery\u2019s global networks division, Discovery Global, into a newly public company, which is projected for completion in Q3 2026.<\/p>\n\n\n\n
Netflix stated Discovery Global will include entertainment, sports and news television brands around the world such as CNN, TNT Sports in the UD, and Discovery, free-to-air channels across Europe, as well as digital products such as Discovery+ and Bleacher Report. <\/p>\n\n\n\n
Netflix was founded in 1997 by Reed Hastings and Marc Randolph. It initially operated as a DVD-by-mail rental service before launching its streaming service in 2007. Netflix currently reaches 301.6 million global customers<\/p>\n\n\n\n
If the deal passes regulatory muster, Netflix will also own WBD\u2019s film and television studios, HBO Max and HBO.<\/p>\n\n\n\n
Netflix co-CEO Greg Peters stated the WBD deal \u201cwill improve our offering and accelerate our business for decades to come\u201d.<\/p>\n\n\n\n
The transaction would unite two entertainment leaders, merging Netflix\u2019s in-house movies and series with WBD shows such as The Big Bang Theory, The Sopranos, Game of Thrones, The Wizard of Oz, and the DC Universe.<\/p>\n\n\n\n
The deal will need to gain regulatory approval from the administration of US President Donald Trump and other entities.<\/p>\n\n\n\n
US Senator Mike Lee posted on X two days ago (3 December) the transaction will \u201craise serious competition questions\u201d.<\/p>\n\n\n\n
\u201cLearning about Netflix\u2019s ambition to buy its real competitive threat, WBD\u2019s streaming business, should send alarm to antitrust enforcers around the world,\u201d Less stated.<\/p>\n\n\n\n
Various news sites reported Comcast and Paramount Skydance also attempted to buy WBD after it announced the sale in October.<\/p>\n\n\n\n
Analyst viewpoints <\/strong> \u201cIt could lead to vertical foreclosure of Warner or HBO no longer providing their content to Netflix rivals,\u201d he explained. \u201cThere are issues around portfolio and gatekeeper power.\u201d<\/p>\n\n\n\n He noted if the deal is completed, a single company becomes the dominant gateway for both production and distribution of premium filmed entertainment, \u201cwith spillover effects on adjoining markets\u201d including theatrical, licensing and consumer devices.<\/p>\n\n\n\n \u201cThe Skydance deal would have been much easier to get through as it involves smaller players and not the market leader,\u201d Entner stated. \u201cI just think [WBD CEO David] Zaslav didn\u2019t want to retire and he engineered this to remain a major figure in Hollywood instead of being a major figure on the golf course.\u201d<\/p>\n\n\n\n Forrester research director Mike Proulx told MWL<\/em> if the \u201cdeal makes it through regulatory approval, Netflix will cement itself as the Goliath of streaming services now with the combined weight of HBO Max and the content studios behind it all\u201d.<\/p>\n\n\n\n \u201cThis deal changes the calculus of the streaming wars, representing a seismic shift in the entertainment industry,\u201d he said.<\/p>\n","protected":false},"excerpt":{"rendered":" Netflix agreed a $72 billion deal to buy Warner Bros. Discovery (WBD) for a merger which would unite the streaming service pioneer with one of the biggest traditional movie and television studios.<\/p>\n","protected":false},"author":20254,"featured_media":274451,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"apple_news_api_created_at":"2025-12-05T15:23:15Z","apple_news_api_id":"b0e17f8b-9503-4fd8-81c8-396adc0369b8","apple_news_api_modified_at":"2025-12-05T19:50:39Z","apple_news_api_revision":"AAAAAAAAAAAAAAAAAAAAAw==","apple_news_api_share_url":"https:\/\/apple.news\/AsOF_i5UDT9iByDlq3ANpuA","apple_news_cover_media_provider":"image","apple_news_coverimage":0,"apple_news_coverimage_caption":"","apple_news_cover_video_id":0,"apple_news_cover_video_url":"","apple_news_cover_embedwebvideo_url":"","apple_news_is_hidden":"","apple_news_is_paid":"","apple_news_is_preview":"","apple_news_is_sponsored":"","apple_news_maturity_rating":"","apple_news_metadata":"\"\"","apple_news_pullquote":"","apple_news_pullquote_position":"","apple_news_slug":"","apple_news_sections":[],"apple_news_suppress_video_url":false,"apple_news_use_image_component":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[14886920,14886865],"tags":[],"site-option":[],"event-cat":[],"class_list":["post-490992","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-devices","category-north-america"],"acf":[],"apple_news_notices":[],"yoast_head":"\n
Roger Entner, founder and analyst at Recon Analytics, told Mobile World Live<\/em> (MWL<\/em>) the deal will face regulatory scrutiny across the US and European Union because it \u201csignificantly increases horizontal SVOD concentration\u201d.<\/p>\n\n\n\n