Netflix, Inc. has reached a definitive agreement to acquire Warner Bros. Discovery (WBD) in a deal valued at $82.7 billion.
Gatekeepers News reports that this will bring the iconic film and TV studio, HBO, and HBO Max under its control. The companies said the cash-and-stock offer is set at $27.75 per WBD share.
According to a joint statement on Thursday, the acquisition is expected to close after WBD completes the planned spin-off of its Global Networks division, Discovery Global, as a publicly listed company in the third quarter of 2026.
Netflix said the move will merge its global streaming platform with Warner Bros.’ century-long legacy in film and television.
The combined libraries will include classics and modern hits such as The Big Bang Theory, Game of Thrones, The Sopranos, The Wizard of Oz, and the DC Universe, alongside Netflix originals like Wednesday, Bridgerton, Money Heist, and Extraction.
Speaking on the acquisition, Ted Sarandos, Netflix’s co-chief executive officer, said, “The move will help the company better entertain viewers around the world, and define the next century of storytelling.
The combined libraries, from classics like Casablanca to modern favourites like Harry Potter, will give audiences more choice.”
Greg Peters, the other Netflix co-CEO, added that the acquisition will enhance offerings and accelerate business growth, saying Netflix’s global reach will expose Warner Bros.’ content to wider audiences and create additional shareholder value.
David Zaslav, CEO of WBD, described the deal as a uniting of two major storytelling companies that will expand entertainment access globally.
He said, “Warner Bros. has shaped global culture for over a century and the partnership will help keep its stories in front of audiences worldwide.”
The announcement coincides with MultiChoice preparing to remove 11 television channels from its DStv platform on December 31, following the end of its distribution agreement with Warner Bros.
