Netflix has agreed to acquire Warner Bros Discovery’s television and film
Netflix has agreed to acquire Warner Bros Discovery’s television and film studios, along with its streaming division, in a landmark $72 billion deal that places one of Hollywood’s oldest and most influential entertainment portfolios under the control of the streaming pioneer responsible for reshaping the global media industry.
The agreement, announced Friday, concludes a fierce bidding battle in which Netflix outpaced Paramount Skydance with a nearly $28-per-share offer—surpassing Paramount’s bid of almost $24 for the entire company, including cable networks now headed for a spinoff. Warner Bros Discovery closed Thursday at $24.50 a share, giving it a valuation of about $61 billion.
A Deal Poised to Reshape the Media Landscape
With the acquisition, Netflix will take ownership of powerhouse franchises such as Game of Thrones, DC Comics and Harry Potter—a move set to strengthen its competitive position against rivals including Disney and the Ellison family-backed Paramount.
“Together, we can give audiences more of what they love and help define the next century of storytelling,” Netflix co-CEO Ted Sarandos said as reported in Reuters.
Analysts say the deal underscores Netflix’s push to secure long-term rights to premier content as it expands into gaming and seeks new growth opportunities following the success of
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