In a seismic shift that redefines the global entertainment landscape, streaming giant Netflix has finalized its acquisition of Warner Bros. Discovery in a monumental transaction valued at approximately $82.7 billion. The deal, announced officially on Friday, stands as one of the largest media consolidations in history.
The acquisition grants Netflix an unprecedented content library, merging its own acclaimed originals like the record-breaking ‘Squid Game,’ ‘Stranger Things,’ and ‘Wednesday’ with Warner’s legendary portfolio. This includes the entire DC Universe superhero franchise, the epic ‘Game of Thrones’ series, the beloved sitcom ‘Friends,’ the wizarding world of ‘Harry Potter,’ cinematic masterpieces like ‘Casablanca’ and ‘Citizen Kane,’ along with premium networks HBO and HBO Max.
Ted Sarandos, Co-CEO of Netflix, framed the merger as a historic unification of storytelling power. ‘Our mission has always been to entertain the world,’ Sarandos stated. ‘By integrating Warner Bros.’ incredible arsenal of timeless classics and modern favorites with our culture-defining titles, we are positioned to fulfill this promise more completely than ever before, shaping the narrative of the next century in entertainment.’
Echoing this sentiment, Warner Bros. Discovery President and CEO David Zaslav characterized the agreement as a merger of ‘two of the greatest storytelling companies in the world,’ aimed at delivering top-tier content to a vastly expanded global audience.
The corporation anticipates that this strategic consolidation will yield significant benefits across the board. For consumers, it promises a vastly optimized viewing experience with enhanced content options and broader access. For the industry, it is projected to forge a more robust entertainment ecosystem, generate increased opportunities for creatives and talent, and deliver enhanced value for its shareholders.
The transaction is projected to be finalized following the planned spin-off of Warner Bros. Discovery’s Global Networks division into a new independent publicly-traded entity, a process now slated for completion in the third quarter of 2026.