Netflix Seals Historic $82.7 Billion Deal to Acquire Warner Bros., Bringing HBO and HBO Max Under Its Umbrella

Netflix has unveiled plans to purchase Warner Bros. in a landmark $82.7 billion acquisition, a move that would unite the world’s largest streaming platform with one of Hollywood’s most iconic studios, known for classics like Casablanca and global franchises including Harry Potter.

According to Netflix, the transaction is expected to close within 12 to 18 months, following Warner Bros. Discovery’s planned spin-off of its cable networks arm, Discovery Global. That separation is anticipated to be completed by the third quarter of 2026.

Netflix said it will pay $27.75 per share, valuing the equity portion of the deal at $72 billion, with the total enterprise value reaching $82.7 billion. The company also pledged to honour all existing theatrical and distribution agreements for Warner Bros.’ films.

For Netflix, the acquisition marks a major strategic expansion. Executives say the deal will strengthen their content library, deepen global reach, and accelerate subscriber growth. Co-CEO Greg Peters told investors that combining Netflix’s distribution power with Warner Bros.’ creative assets will “drive billions in value over the coming decades.”

Analysts believe the merger could reshape global streaming by merging two major content ecosystems under one umbrella possibly integrating Warner Bros. and HBO Max’s library into a single Netflix-led platform, simplifying access with unified login, discovery tools, and advertising systems.

As industry speculation intensifies and the integration process begins, Warner Bros. shares remained stable, while Netflix stock slipped slightly in early trading. The acquisition, one of the largest in entertainment history, is poised to transform the competitive landscape of Hollywood and global streaming.

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