Netflix will buy Warner Bros' studio and streaming businesses for $72 billion

"Netflix has struck a deal with Warner Bros. Discovery, the legacy Hollywood giant behind "Harry Potter" and "Friends," to buy its studio and streaming business for $72 billion. The acquisition would bring two of the industry's biggest players in film and TV under one roof and alter the entertainment industry landscape. Beyond its namesake television and motion picture division, Warner owns HBO Max and DC Studios."

""For more than a century, Warner Bros. has thrilled audiences, captured the world's attention, and shaped our culture," David Zaslav, CEO of Warner Bros. Discovery, said in a statement Friday. "By coming together with Netflix, we will ensure people everywhere will continue to enjoy the world's most resonant stories for generations to come." The cash and stock deal is valued at $27.75 per Warner share, giving it a total enterprise value of approximately $82.7 billion."

"The bid will draw tremendous antitrust scrutiny. Beyond TV and movie production, the merger would bring two of the streaming world's biggest names Netflix and HBO Max under the same ownership. If the transaction goes through, Netflix "will cement itself as the Goliath of streaming," said Mike Proulx, a VP research director at Forrester. "This deal changes the calculus of the streaming wars, representing a seismic shift in the entertainment industry.""

Netflix agreed to acquire Warner Bros. Discovery's studio and streaming business for $72 billion, combining major film and television production assets and streaming services. The acquisition brings HBO Max and DC Studios under common ownership with Netflix's global streaming platform and production units that released titles such as Stranger Things and Squid Game. The offer consists of cash and stock, valuing Warner at $27.75 per share and giving an enterprise value near $82.7 billion. The transaction excludes cable networks such as CNN and Discovery and is expected to close within 12 to 18 months after Warner completes its planned separation of cable operations. The merger will face significant antitrust review and could prompt bundled subscription offerings and a major shift in streaming competition.

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