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Netflix agrees $72bn deal for Warner Bros Discovery Studios
The agreement values WBD’s studios and streaming businesses at $82.7 billion
Netflix has struck a major $72 billion (£54 billion) deal to take control of Warner Bros Discovery’s film and TV studios, giving the streaming giant access to some of the world’s biggest entertainment franchises, including Harry Potter and Game of Thrones.
According to Sky News, Netflix pushed out rival bidders Paramount Skydance and Comcast, the parent company of Sky News, after a competitive race for the bulk of WBD’s entertainment assets. The agreement values WBD’s studios and streaming businesses at $82.7 billion, with Netflix paying $27.75 per share.
The deal includes HBO, the HBO Max platform, and DC Studios, marking one of the most ambitious expansions in Netflix’s history. To complete the takeover, WBD will first separate its remaining Discovery Global division, which includes legacy cable networks such as CNN and the TNT sports channels.
The agreement is expected to face significant scrutiny from competition watchdogs in both the US and Europe, as regulators assess the impact of merging two of the biggest forces in global entertainment.
