Netflix to purchase Warner Bros. for $82.7 billion

Shortly after rumors of a deal between the two media giants broke, Netflix has announced it is shopping for Warner Bros., HBO and HBO Max for roughly $82.7 billion. If accepted, the deal will happen after Warner Bros. has disentangled itself from each its legacy cable and Discovery assets as part of the already-announced de-merger. That is more likely to happen within the third quarter of 2026, with this new tie-up happening in some unspecified time in the future after that.

In a press release, Netflix stated it expects to “keep” Warner Bros. present operations, in addition to its coverage of theatrical releases for its movies. However the deal might spell the tip for HBO Max as its personal product in the long term, because the assertion additionally says “by including the deep movie and TV libraries and HBO and HBO Max programming, Netflix members may have much more high-quality titles from which to decide on.”

Naturally, the deal will see Netflix grow to be one of many greatest gamers in world media, combining its world attain with a few of the most recognizable names in leisure. That features HBO, DC Studios, Cartoon Community, its recreation growth studios and TCM, in addition to the chunks of TNT not forged adrift with Discovery.

It is possible the deal won’t go forward with out quite a lot of objections from different consumers, in addition to the federal government itself. Yesterday, Paramount Skydance stated (by way of the Hollywood Reporter) any deal between WB and Netflix could be the results of an “unfair” course of. Given the shut ties between Paramount’s new house owners and the administration, it is possible any deal might be topic to scrutiny in addition to the same old questions across the measurement of the mixed operation.

For the reason that announcement was made, Engadget senior reporter Devindra Hardawar has spoken with Hollywood gamers and collated research and statements to reply any burning questions you might need on what this deal means for you. He additionally solutions questions concerning the probability of regulatory approval, theatrical releases and bodily media. Make amends for all that in his piece titled “The Netflix and Warner Bros. deal might be great for shareholders, but not for anyone else.”

Replace, December 5 2025, 1:45PM ET: This story has been up to date so as to add a paragraph and hyperlink to a brand new article we’ve printed that comprises deeper evaluation and extra details about the Netflix/Warner Bros. deal and what which may imply for streaming, motion pictures, TV and shareholders.