Business
NETFLIX TO ACQUIRE WARNER BROS. FOLLOWING THE SEPARATION OF DISCOVERY GLOBAL FOR A TOTAL ENTERPRISE VALUE OF $82.7 BILLION (Equity Value of $72.0 Billion)
Today, Netflix, Inc. (the Company) and Warner Bros. Discovery, Inc. (WBD) announced they have entered into a definitive agreement under which Netflix will acquire Warner Bros., including its film and television studios, HBO Max and HBO.
About this update from Warner Bros. Discovery, Inc. - Series A
[{"type":"text","content":"Transaction Unites Warner Bros.' Iconic Franchises and Storied Libraries with Netflix's Leading Entertainment Service, Creating an Extraordinary Offering for Consumers","length":180,"tagName":"p","attribs":{}},{"type":"text","content":"Netflix to Maintain Warner Bros.' Current Operations","length":56,"tagName":"p","attribs":{}},{"type":"text","content":"Combination Will Offer More Choice and Greater Value for Consumers, Create More Opportunities for the Creative Community and Generate Shareholder Value ","length":151,"tagName":"p","attribs":{}},{"type":"text","content":"Acquisition Will Strengthen the Entertainment Industry","length":54,"tagName":"p","attribs":{}},{"type":"text","content":"---------------","length":15,"tagName":"p","attribs":{}},{"type":"text","content":"HOLLYWOOD, Calif., Dec. 5, 2025 /PRNewswire/ -- Today, Netflix, Inc. (the Company) and Warner Bros. Discovery, Inc. (WBD) announced they have entered into a definitive agreement under which Netflix will acquire Warner Bros., including its film and television studios, HBO Max and HBO.","length":289,"tagName":"p"},{"type":"image","alt":"NETFLIX TO ACQUIRE WARNER BROS.","displaySize":"","headline":null,"caption":"NETFLIX TO ACQUIRE WARNER BROS.","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":103,"url":"https://media.zenfs.com/en/cnwgroup.com/efafed756e405b53e346e4b3778ebcfa"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/cFfCvWuPap2pFDIY1ZtBXg--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTE4MjtjZj13ZWJw/https://media.zenfs.com/en/cnwgroup.com/efafed756e405b53e346e4b3778ebcfa","width":400,"height":103}},"href":"https://mma.prnewswire.com/media/2839419/Netflix_Warner_Brothers_Discovery.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":"The cash and stock transaction is valued at $27.75 per WBD share (subject to a collar as detailed below), with a total enterprise value of approximately $82.7 billion (equity value of $72.0 billion). The transaction is expected to close after the previously announced separation of WBD's Global Networks division, Discovery Global, into a new publicly-traded company, which is now expected to be completed in Q3 2026.","length":421,"tagName":"p"},{"type":"text","content":"This acquisition brings together two pioneering entertainment businesses, combining Netflix&...