Netflix's 72B USD Buyout of Warner Bros Signals Streaming Power Shift

Netflix has confirmed a $72 billion acquisition of Warner Bros. Discovery’s entertainment assets, including Warner Bros. Studios, HBO, HBO Max, Cartoon Network, and the company’s extensive film and television catalog.

The deal, valued at about $82.7 billion including debt, marks one of the largest entertainment mergers in the streaming era.

Warner Bros. shareholders will receive a mix of cash and Netflix stock at $27.75 per share. The agreement places globally recognized franchises such as DC Universe, Harry Potter, Game of Thrones, and classic series including Friends and The Sopranos under Netflix’s ownership. The buyout also includes the historic Warner Bros. lot in Burbank, California.

The deal excludes Warner’s traditional broadcast and cable television networks. Those divisions will transition into a separate company called Discovery Global, expected to operate independently by mid-2026.

• Netflix’s $72B Warner Bros. acquisition reshapes global streaming dominance
• HBO, DC Universe, and Harry Potter move under Netflix in historic entertainment deal
• Massive Netflix–Warner Bros. merger raises regulatory, industry, and subscriber concerns

Netflix executives framed the acquisition as a strategic move to strengthen its position in premium storytelling and expand its library rather than rely heavily on external licensing deals. The company stated that Warner Bros. films will continue to premiere in theaters before moving to streaming, signaling a willingness to keep one of Hollywood’s long-standing release models in place.

Industry reactions have been divided. Some analysts see the consolidation as a practical response to rising production and streaming infrastructure costs. Meanwhile, writer and actor unions have raised concerns over potential job cuts, reduced creative competition, and possible subscription price increases. Several advocacy groups and lawmakers have urged regulatory agencies to examine the antitrust implications.

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If regulators approve the transaction, Netflix will gain one of the most valuable content libraries in modern entertainment, reshaping competition across global streaming, theatrical releases, and legacy television. The final regulatory decision is expected sometime in 2026.