Huan Qiu Shi Bao·2025-12-07 22:44Core Viewpoint - Netflix announced the acquisition of Warner Bros. Discovery's core business for $27.75 per share, with an overall enterprise value of $82.7 billion, including an equity value of $72 billion, aiming to redefine storytelling for global audiences [1] Group 1: Acquisition Details - The acquisition will merge Netflix, the largest streaming platform, with Warner Bros., which owns HBO Max, combining their television and film departments, including DC Studios and popular IPs like Harry Potter and Friends [1] - The deal has been in negotiation for several months, with Netflix emerging as the winner among several industry giants due to its financial stability and Warner's board preference for a stable partner [1] - The transaction is expected to take time to finalize, requiring Warner to divest its cable network business and regulatory approval, with completion anticipated no earlier than Q3 2026 [1] Group 2: Industry Impact - The merger could significantly alter the Hollywood landscape, leaving only Disney, Paramount, Sony, and Universal as the remaining traditional studios if Warner Bros. disappears [1] - Concerns have been raised regarding potential job cuts, reduced pay, and diminished working conditions in the industry, with the American Writers Guild urging to block the merger [2] - The Cinema Alliance, representing thousands of theaters, opposes the deal, fearing it poses an unprecedented threat to global exhibition formats [2] Group 3: Netflix's Commitments - To alleviate concerns from theater operators, Netflix has committed to ensuring Warner films will continue to be released in theaters, adhering to existing contractual agreements [2] - Netflix's CEO expressed a desire to enter traditional filmmaking, leveraging Warner's extensive IP library to reshape the century-old entertainment industry [2]