"Netflix has agreed a £54 billion deal to buy Warner Bros, setting the stage for one of the biggest and most transformative mergers the entertainment industry has ever seen."
""Warner Bros has helped define entertainment for more than a century and continues to do so with phenomenal creative executives and production capabilities," he said. "With our global reach and proven business model, we can introduce a broader audience to the worlds they create, give our members more options, and strengthen the entire entertainment industry.""
"As part of the deal, Discovery Global, operator of CNN and several major US networks, will be separated from Warner Bros. HBO, Warner Bros Pictures and the vast DC, Harry Potter and Looney Tunes catalogues will move under Netflix's control."
Netflix has agreed to acquire Warner Bros for $72 billion (£54 billion), gaining HBO, Warner Bros Pictures and extensive DC, Harry Potter and Looney Tunes catalogues. Discovery Global, operator of CNN and several major US networks, will be separated from Warner Bros as part of the transaction. The takeover requires US regulatory approval and faces intense antitrust scrutiny, with the merger process expected to run into 2027. The deal ends a fierce bidding war involving Comcast and Paramount's Skydance. The acquisition responds to shifting streaming economics, inconsistent cinema attendance and AI-driven production changes, positioning consolidation as a lifeline for legacy studios.
Read at Business Matters
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