Biggest Entertainment Merger: Netflix Buys Warner Bros

Netflix has made a massive move by buying Warner Bros in a record-breaking 82.7-billion-dollar deal. Both companies confirmed that they have signed a final agreement for Netflix to take over Warner Bros including its film and TV studios, HBO Max and HBO.

Each WBD share is priced at $27.75, bringing the total value to $82.7 billion. The deal will officially close after Warner Bros Discovery separates its Global Networks division, Discovery Global into a new public company. This entire process is expected to be completed in the third quarter of 2026.

Once the deal is done several iconic shows like The Big Bang Theory, The Sopranos, Game of Thrones, The Wizard of Oz and the DC Universe will start streaming on Netflix.

This acquisition will give Netflix a great boost in content and market power. Earlier in June 2025 Warner Bros had already announced the separation of its Streaming & Studios and Global Networks divisions.

Today, Netflix announced our acquisition of Warner Bros. Together, we’ll define the next century of storytelling, creating an extraordinary entertainment offering for audiences everywhere. https://t.co/rXPFMNIs1A pic.twitter.com/0pdsMUEob8

— Netflix (@netflix) December 5, 2025