Netflix has agreed to buy Warner Brothers and HBO for a whopping $83 billion. So, if approved, the merger would combine one of the most storied studios with the world's largest streaming service. >> The deal includes Warner Brothers massive catalog, including the HBO Max streaming platform.What it doesn't include is the company's networks, including CNN, Discovery, TBS, and HGTV. NBC News entertainment correspondent Khloe Malas joins us now. Good to see you, Chloe.So Netflix beat out both Comcast, our paren ...

In this articlePSKYWBDNFLXParamount Skydance CEO David Ellison speaks during the Bloomberg Screentime conference in Los Angeles on October 9, 2025. (Photo by Patrick T. Fallon / AFP) (Photo by PATRICK T. FALLON/AFP via Getty Images) Patrick T. Fallon | Afp | Getty ImagesThis isn't exactly what David Ellison had planned in September. Just a few months ago, the Paramount Skydance CEO sent a letter to the Warner Bros. Discovery board of directors arguing a combination of the two media and entertainment compani ...

(Bloomberg) — Wells Fargo & Co (WFC). landed a co-advisory role on Netflix Inc.’s (NFLX) planned takeover of Warner Bros. Discovery Inc (WBD)., underscoring the bank’s willingness to flex its balance sheet to win blockbuster M&A mandates. The San Francisco-based lender is helping provide a $59 billion bridge loan for the deal, along with BNP Paribas SA and HSBC Holdings Plc — though Wells Fargo is the only one among the three banks to snag an all-important advisory credit. The enterprise value of the deal ...

Warner Bros. Discovery plans to continue with its previously planned break-up, which will involve spinning off its cable TV channels including CNN and TBS into a standalone business, leaving the remaining studios that make TV and movies and the company's streaming services to be acquired by Netflix for $27.75 per share. The companies expect the deal to close in the third quarter of next year. Netflix co-CEO Ted Sarandos said Friday that combining with Warner Bros. Discovery will help both companies "define ...

Core Insights - Netflix has announced its acquisition of Warner Bros. with an enterprise value of $82.7 billion, marking a significant move in the streaming industry [1][2] - The deal includes HBO Max and the HBO studio, enhancing Netflix's content library with popular franchises like DC Comics, "Game of Thrones," and "Harry Potter" [2] - Netflix's investment of $72 billion surpasses Warner Bros.' market valuation of $60 billion, indicating the scale of the acquisition [3] Industry Context - The merger is one of the largest in Hollywood's history and positions Netflix to solidify its leading market position [2] - Warner Bros. Discovery had been struggling with debt and disappointing streaming growth, prompting the sale [7] - The acquisition is expected to finalize in the third quarter of 2026, following Warner Bros. Discovery's separation from Discovery Global [7][8] Regulatory Considerations - The merger may face antitrust scrutiny, with concerns raised by senators regarding potential political favoritism and corruption [4] - An anonymous group has reportedly urged Congress to oppose Netflix's acquisition offer, reflecting industry pushback [4]

Summary of Netflix's Acquisition of Warner Bros. Company and Industry - **Company**: Netflix (NasdaqGS:NFLX) - **Acquisition Target**: Warner Bros. Discovery (WBD) - **Industry**: Entertainment and Media Key Points and Arguments Acquisition Overview - Netflix announced an agreement to acquire Warner Bros. for a total enterprise value of approximately **$82.7 billion** [4][14] - The acquisition includes Warner Bros.' film and TV studios, HBO Max, and HBO, structured as a cash and stock transaction valued at **$27.75 per WBD share** [13][14] - The deal is expected to close within **12-18 months**, pending regulatory and shareholder approvals [5][14] Strategic Rationale - The acquisition is seen as a rare opportunity to enhance Netflix's content library and global reach, aiming to create a stronger organization than either could achieve alone [6][9] - Warner Bros. has a rich library of IP, including major franchises like **Harry Potter** and the **DC Universe**, which will provide Netflix with more high-quality content [7][10] - The deal is expected to provide greater choice and value for consumers, enhancing engagement and retention [10][11] Financial Implications - Warner Bros. is projected to generate approximately **$3 billion in EBITDA** in 2026, with expected cost savings of around **$2.5 billion**, leading to a post-synergy EBITDA of about **$5.5 billion** [14][15] - The acquisition is anticipated to be accretive to GAAP EPS by the second year post-closing [15] - Netflix plans to fund the acquisition through a mix of cash, new debt financing, and stock [14] Operational Strategy - Netflix intends to maintain the operations of Warner Bros. and its brands, including HBO, while leveraging its own streaming capabilities to enhance content distribution [5][10] - The integration aims to unlock value by combining Netflix's distribution model with Warner Bros.' content, potentially leading to increased engagement and subscriber growth [22][70] Market Position and Future Outlook - The acquisition is positioned as a proactive move to strengthen Netflix's market position amid increasing competition in the streaming industry [31][81] - Netflix's leadership expressed confidence in navigating the regulatory process, emphasizing the pro-consumer nature of the deal [75] - The combination is expected to drive long-term value for shareholders and enhance the overall entertainment offering for consumers [16][17] Additional Considerations - The deal is seen as a way to address engagement challenges by providing a broader array of content, which is crucial for attracting and retaining subscribers [78][82] - Netflix's commitment to maintaining a healthy balance sheet and investment-grade credit ratings post-acquisition was highlighted [15][16] Important but Overlooked Content - The acquisition is not just about expanding content but also about creating new IP universes and enhancing development capabilities, leveraging Warner Bros.' century-long expertise in storytelling [60][62] - The potential for synergies in operational areas, particularly in SG&A and technology, was discussed, indicating a focus on efficiency alongside growth [64][68] - The leadership acknowledged the historical challenges of media transactions but emphasized their understanding of the entertainment business as a key differentiator for success in this acquisition [32][75]

Warner Brothers Discovery says it's selling its streaming and studio assets to Netflix in a deal valued at nearly $83 billion. This is a major development as it sets the stage for one of the most consequential mergers in Hollywood history. If approved by federal regulators, this agreement would unite the world's largest streaming platform with the more than 100-year-old film studio, causing a major shakeup in the media landscape.This comes after the company had multiple biders, including Paramount Skyans an ...

Group 1 - Netflix has agreed to a $72 billion deal to acquire Warner Bros Discovery's film and TV studios, enhancing its content library with rights to major franchises like Harry Potter and Game of Thrones [1] - The agreed price for the deal is $27.75 per share, but it is expected to face scrutiny from competition regulators in the United States [2] - Rival bidders included Paramount Skydance and Comcast, indicating a competitive landscape for media assets [1][2] Group 2 - The deal does not encompass Warner Bros Discovery's cable networks, such as CNN and TNT sports channels, focusing solely on film and TV studios [3] - There are concerns from major studios about a potential institutional crisis for Hollywood if the deal proceeds without regulatory intervention [2]

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Bloomberg understands that Warner Brothers Discovery has entered exclusive negotiations to sell its film and TV studios and HBO max streaming service to Netflix. For more on this Bloomberg scoop, let's bring in our deals report Manuel Baigorri How significant then, would this be. Tom.Significant, indeed, because it's going to send shockwaves in the industry as a transformative deal for the entertainment industry, not only in the US but globally. Given how powerful these franchises are. It would be definitel ...