Netflix has announced a landmark $82.7 billion acquisition of Warner Bros. Discovery, a move that would bring HBO, DC Entertainment, and Warner Bros.’ film legacy under the streaming giant’s umbrella.
BY PC Bureau
December 6, 2025: Netflix has pulled off the biggest surprise of the year with an industry-shaking announcement: the streaming giant is set to acquire Warner Bros. Discovery (WBD) in a colossal $82.7 billion deal, paving the way for HBO, Warner Bros. films, and the entire DC universe to land on Netflix for the first time ever.
The agreement, revealed on Friday, confirms that both companies have signed a definitive merger deal approved unanimously by their boards. If completed, it will give Netflix control over HBO, HBO Max, Warner Bros.’ film and TV studios, and DC Entertainment — a combination that instantly alters the balance of global entertainment power.
Netflix disclosed in its SEC filing that the buyout carries a $72 billion equity value, rising to $82.7 billion once WBD’s heavy debt load is included. The streamer valued WBD shares at $27.75 each, a bid strong enough to beat out competition from Paramount–Skydance and Comcast’s NBCUniversal, both of which had been exploring partnership options.
Streaming giant Netflix to buy film and television studio Warner Bros. Discovery for nearly $83B, the entertainment industry’s biggest consolidation deal this decade pic.twitter.com/nm8SrtLe5I
— TRT World Now (@TRTWorldNow) December 5, 2025
Leaders Celebrate a New Era
Calling the merger a transformative moment, Netflix co-CEO Ted Sarandos said the partnership would expand storytelling possibilities on an unprecedented scale.
Co-CEO Greg Peters described the move as a “generational investment.”
WBD head David Zaslav praised the union as a joining of “two legendary storytellers with global reach.”
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Regulatory Road Ahead
The merger still needs approval from the U.S. Securities and Exchange Commission (SEC). The companies expect the deal to close in late 2026, after Discovery Global — WBD’s international networks division — is separated into an independent publicly traded company.
The sale marks the end of a turbulent period for Warner Bros. Discovery, which has struggled with debt, shrinking subscriber numbers, and fierce competition in the streaming sector. For Netflix, the deal signals a bold and aggressive expansion into traditional studio territory.
What Viewers Can Expect
If the deal goes through, Netflix will gain access to one of Hollywood’s richest content archives. Subscribers could soon stream:
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HBO hits like Game of Thrones, The Last of Us, Succession
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The Harry Potter franchise
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Christopher Nolan’s Dark Knight trilogy
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The entire DC film and TV library
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Warner Bros. blockbusters and classics spanning decades
Netflix confirmed it will continue Warner Bros.’ theatrical release tradition, indicating that cinema-first premieres will remain — but the window between theaters and streaming may shrink significantly.
The company also suggested deeper integration of HBO content into Netflix’s ecosystem, hinting at new subscription tiers or bundled libraries that merge HBO and Netflix offerings under one platform.
The Biggest Content Pool Ever
By absorbing Warner Bros. Discovery, Netflix would command the largest and most diverse entertainment library in the streaming world. The acquisition also gives Netflix greater production muscle, allowing it to manage major franchises while expanding its own slate of originals.
The Impact on Hollywood
This deal is not just about adding titles — it’s about consolidating influence.
Netflix would unite HBO’s prestige storytelling, Warner Bros.’ century-old cinematic heritage, and its own global subscriber base into a single, unrivalled entertainment empire.
If approved, the merger will reshape the future of streaming, redefine studio competition, and possibly signal the beginning of a new, consolidated era in global media.
