Netflix’s Boldest Move Yet: $82.7 Billion Takeover of Warner Bros. Discovery Reshapes Media Landscape

Netflix has announced its most ambitious acquisition to date, agreeing to purchase Warner Bros. Discovery for $82.7 billion in a transaction that will fundamentally alter the streaming and entertainment sectors. This definitive agreement unites Netflix’s cutting-edge streaming technology and original content with Warner Bros.’ vast library of film and television properties, including the prestigious HBO brand.
Shareholders of Warner Bros. Discovery stand to receive $27.75 per share under this agreement, with the deal structure reflecting a total equity value of approximately $72.0 billion. The enterprise valuation of $82.7 billion encompasses Warner Bros. Discovery’s entire portfolio of assets, including its production studios, cable networks, and streaming operations. The unanimous board approval from both organizations demonstrates strong leadership alignment on the strategic benefits of this combination.
In his statement regarding the acquisition, Netflix co-CEO Ted Sarandos emphasized the company’s commitment to its mission of entertaining the world. He pointed to the synergies between Warner Bros.’ timeless classics and modern hits with Netflix’s original series, suggesting that the combined library will offer subscribers unmatched variety and quality. This merger represents Netflix’s evolution from content distributor to content owner on an unprecedented scale.
David Zaslav, speaking on behalf of Warner Bros. Discovery, praised the merger as a union of two great storytelling traditions. He expressed confidence that joining forces with Netflix will ensure Warner Bros.’ legacy content reaches new audiences while maintaining the creative excellence that has defined the studio for over a century. The transaction positions the combined company to compete more effectively in the rapidly evolving global entertainment market.