Summary
Netflix has agreed to buy Warner Bros. Discovery's studio and streaming business for $72 billion. This deal will bring together major entertainment companies and is expected to change the industry significantly. The transaction is set to close after Warner separates its cable operations in 2026.
Key Facts
- Netflix is purchasing Warner Bros. Discovery's studio and streaming business for $72 billion.
- Warner Bros. owns popular brands like HBO Max and DC Studios, as well as famous shows and movies like "Friends" and "Harry Potter."
- The acquisition will combine two major players in the film and TV industry.
- The deal values Warner Bros. at $82.7 billion and will be completed after restructuring in 2026.
- Netflix plans to continue theatrical releases for Warner's films, keeping current agreements for movie theater showings.
- Shares in Warner Bros. increased by nearly 3% after the announcement, while Netflix and Paramount shares fell by over 2%.
- Cinema industry representatives express concerns that the merger could harm movie theaters worldwide.
- Netflix's CEO stated the merger aims to entertain a global audience by providing more content people enjoy.
