Netflix Is Buying Warner Bros., HBO, and HBO Max

"Per an official statement, "The cash and stock transaction is valued at $27.75 per WBD share ... 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.""

"For those big bucks, the acquisition will bring "together two pioneering entertainment businesses, combining Netflix's innovation, global reach and best-in-class streaming service with Warner Bros.' century-long legacy of world-class storytelling." The official statement from Netflix mentions, in particular, franchises, shows, and movies like "The Big Bang Theory," "The Sopranos," "Game of Thrones," "The Wizard of Oz," and the DC Universe from the WB side, along with Netflix properties including "Wednesday," "Money Heist," "Bridgerton," "Adolescence," and "Extraction.""

"Wake up, movie lovers and TV fanatics: Hollywood just got a whole lot smaller. On Thursday night, Bloomberg broke the news that Netflix and Warner Bros. Discovery had entered an exclusive deal for the streamer to buy the studio. This came after a weeks-long bidding war initially sparked by the news that Paramount Skydance was looking to buy Warner Bros. Discovery - after Paramount Skydance closed its own deal in August."

Netflix and Warner Bros. Discovery have entered a definitive agreement for Netflix to acquire Warner Bros., including film and television studios, HBO, and HBO Max. The transaction is a cash-and-stock deal valued at $27.75 per WBD share, with a total enterprise value around $82.7 billion and an equity value near $72.0 billion. The closing is contingent on the separation of WBD's Global Networks division, Discovery Global, into a new publicly traded company expected in Q3 2026. The deal follows a weeks-long bidding war and consolidates major franchises and global streaming assets under Netflix.

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