Netflix to acquire Warner Bros. for $82.7 billion in a deal that could reshape Hollywood

Core Insights - Netflix is making its largest acquisition ever, acquiring Warner Bros. from Warner Bros. Discovery for an enterprise value of $82.7 billion [1] Group 1: Acquisition Details - The deal is a cash-and-stock transaction that combines Netflix's leading streaming platform with Warner Bros.' historic studio and its assets, including HBO, HBO Max, and major franchises like "Harry Potter" and "Game of Thrones" [2] - The acquisition is anticipated to finalize after Warner Bros. Discovery separates its Global Networks division into a publicly traded company, Discovery Global, expected to occur in the third quarter of 2026 [3]