Netflix to acquire Warner Bros. in massive $82.7 billion deal
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Netflix agrees to buy Warner Bros Discovery – gaining control of Harry Potter and DC franchises
- Netflix has agreed to acquire Warner Bros Discovery's TV, film studios, and streaming division for $72 billion, following a weeks-long bidding war.
- The deal grants Netflix control over major franchises including Game of Thrones, DC Comics, and Harry Potter, significantly shifting the power balance in Hollywood.
- Netflix's offer of nearly $28 per share for Warner Bros Discovery's assets surpassed Paramount Skydance's bid, aiming to secure long-term content rights and expand its market dominance.
- The acquisition is expected to face considerable antitrust scrutiny in Europe and the US due to concerns over market concentration, given Netflix's existing subscriber base and Warner Bros Discovery's HBO Max.
- Netflix anticipates generating between $2 billion and $3 billion in annual cost savings within three years of the deal's completion, which is projected for the third quarter of 2026 after a spin-off.