12月16日，奈飞两名首席执行官就公司收购拥有HBO频道等的华纳兄弟探索一事阐述立场，承诺维持 华纳兄弟电影于院线上映，回应市场担心奈飞会优先采取串流平台先行的模式。 Greg Peters及Ted Sarandos于周一致函员工，承诺不会出现业务重叠或关闭制片厂，以回应外界关注该 宗大型交易将削减职位。市场亦关注监管机构会否批准交易，Peters及Sarandos引用尼尔森的收视数据 指出，奈飞与华纳兄弟合并后的观看市占率，仍将低于YouTube，亦低于派拉蒙与华纳兄弟潜在合并的 情况。 美股频道更多独家策划、专家专栏，免费查阅>> 责任编辑：栎树 ...

Core Viewpoint - Netflix announced the acquisition of Warner Bros. for $72 billion, marking a significant merger in the entertainment industry, combining the largest paid streaming platform with one of Hollywood's oldest film giants [1][3]. Group 1: Acquisition Details - Warner Bros. shareholders will receive $27.75 per share in cash and Netflix stock, with the equity value of the deal estimated at $72 billion and an enterprise value of approximately $82.7 billion [3]. - Prior to the acquisition, Warner Bros. will complete a planned spin-off of its television network business, including channels like CNN, TBS, and TNT, expected to be finalized by Q3 2026 [3]. - The acquisition process faced competition, with Paramount and Comcast also expressing interest, but Netflix entered exclusive negotiations with Warner Bros. [9][10]. Group 2: Strategic Implications - This acquisition allows Netflix to own HBO and its classic series, as well as a vast array of film assets, including the "Harry Potter" and "Friends" franchises [9]. - Netflix aims to maintain Warner Bros.' existing operational methods and continue its focus on theatrical releases, addressing concerns from Hollywood about the merger [9]. - The merger is projected to yield annual cost savings of $2 billion to $3 billion by the third full fiscal year post-acquisition [9]. Group 3: Market Reactions and Financials - Following the announcement, Netflix's stock price fell, while Warner Bros.' stock price increased [3]. - Netflix's revenue has reached $39 billion, while Warner Bros. also reports revenues exceeding $39 billion, highlighting the scale of both companies [10]. - The deal is expected to face antitrust scrutiny from regulators in the U.S. and Europe, with concerns raised by lawmakers about potential consumer impacts [10].

Core Viewpoint - Netflix announced the acquisition of Warner Bros. for $72 billion, marking a significant merger in the entertainment industry, combining the largest paid streaming platform with one of Hollywood's oldest studios [2][4]. Group 1: Acquisition Details - The agreement states that Warner Bros. shareholders will receive $27.75 per share in cash and Netflix stock, with the equity value of the deal estimated at $72 billion and an enterprise value of approximately $82.7 billion [4]. - Prior to the acquisition, Warner Bros. will complete a planned spin-off of its television network business, including channels like CNN, TBS, and TNT, expected to be finalized by Q3 2026 [4][6]. - The acquisition will allow Netflix to own HBO and its classic series, along with a vast array of film assets, including franchises like Harry Potter and Friends [5][6]. Group 2: Strategic Implications - This acquisition is significant for Netflix, as it has never engaged in such a large-scale merger before, transitioning from acquiring content rights to focusing on original productions [4][6]. - Netflix aims to maintain Warner Bros.' existing operational methods and continue its film theatrical release model, addressing concerns from Hollywood about the merger [6]. - The merger is projected to yield annual cost savings of $2 billion to $3 billion by the third full fiscal year post-acquisition [7]. Group 3: Market Context and Competition - The traditional television business is experiencing structural decline, with Warner Bros.' cable TV revenue dropping 23% year-over-year due to subscriber losses and advertiser pullbacks [7]. - The acquisition process faced competition from other bidders like Paramount and Comcast, with Paramount accusing Warner Bros. of favoring Netflix [7][8]. - Regulatory scrutiny is anticipated, with concerns raised by U.S. lawmakers about potential consumer harm, as Netflix's main competitor is identified as YouTube [8].

【导读】史诗级收购来了 大家好，关注一下今晚发生的影视圈史诗级的收购！Netflix将以720亿美元（相当于5000亿元人民币）现金加股票交易收购华纳兄 弟！ 12月5日晚间，Netflix（奈飞）宣布收购华纳兄弟探索公司，史上罕见的重磅合并将全球最大付费流媒体平台与好莱坞最老牌的影 视巨头之一结合在一起。 在宣布收购华纳兄弟时，奈飞表示："我们将共同定义下一个世纪的叙事方式，为全球观众打造非凡的娱乐体验。" 根据周五公布的协议，华纳兄弟股东将获得每股27.75美元的现金与Netflix股票。此次交易的股权价值约720亿美元，企业价值约827 亿美元。 在交易完成前，华纳兄弟将先完成此前规划的电视网络业务分拆，包括CNN、TBS、TNT等有线频道。Netflix表示，该分拆预计将 在2026年第三季度完成。 受此消息影响，Netflix股价下跌，而华纳兄弟股价上涨。 这笔收购对Netflix意义重大。作为流媒体行业的开创者，Netflix过去从未进行过如此规模的并购。公司早年靠向其他制片厂购买版 权起家，随后转型押注原创内容，逐步成长为好莱坞最具价值的企业之一。 伴随此次收购，Netflix将成为HBO频道及 ...

【导读】史诗级收购来了 中国基金报记者 泰勒 大家好，关注一下今晚发生的影视圈史诗级的收购！ Netflix 将以720亿美元（相当于 5000亿元 人民币 ）现金加股票交易收购 华纳兄弟 ！ 12月5日晚间，Netflix（奈飞）宣布收购华纳兄弟探索公司，史上罕见的重磅合并将全球最大付费流媒体平台与好莱坞最老牌的影 视巨头之一结合在一起。 在宣布收购华纳兄弟时， 奈飞表示："我们将共同定义下一个世纪的叙事方式，为全球观众打造非凡的娱乐体验。" 根据周五公布的协议，华纳兄弟股东将获得 每股27.75美元 的现金与Netflix股票。此次交易的股权价值约 720亿美元 ，企业价 值约 827亿美元 。 在交易完成前，华纳兄弟将先完成此前规划的电视网络业务分拆，包括CNN、TBS、TNT等有线频道。Netflix表示，该分拆预计 将在 2026年第三季度 完成。 受此消息影响，Netflix股价下跌 ，而华纳兄弟股价上涨 。 | 最高: 101.89 | 今年:98.78 | 成交量: 2401.41万股 | 换手:0.57% | | --- | --- | --- | --- | | 最低: 97.74 | 昨 ...