Last Updated:December 05, 2025, 19:46 IST

Netflix will acquire Warner Bros., including HBO and HBO Max, in a deal valuing Warner Bros.

Netflix To Buy Warner Bros In Landmark $82.7 Billion Acquisition

Netflix confirmed a historic entertainment merger on Friday, announcing an agreement to acquire Warner Bros., including its film studio, television operations, HBO and HBO Max. The announcement was made through Netflix’s official channels, outlining a cash-and-stock transaction that places Warner Bros. Discovery at an enterprise value of about $82.7 billion.

According to details shared by Tudum, the offer values each Warner Bros. Discovery (WBD) share at $27.75, bringing the total equity valuation to roughly $72 billion. Both companies’ Boards of Directors have unanimously approved the deal.

Netflix co-CEO Ted Sarandos said the acquisition strengthens the platform’s long-term creative ambitions. “Our mission has always been to entertain the world. By combining Warner Bros.’ incredible library of shows and movies—from timeless classics like Casablanca and Citizen Kane to modern favorites like Harry Potter and Friends—with our culture-defining titles like Stranger Things, KPop Demon Hunters and Squid Game, we’ll be able to do that even better. Together, we can give audiences more of what they love and help define the next century of storytelling.”

Warner Bros. Discovery President and CEO David Zaslav described the partnership as a union of two major creative forces. “Today’s announcement combines two of the greatest storytelling companies in the world to bring to even more people the entertainment they love to watch the most. For more than a century, Warner Bros. has thrilled audiences, captured the world’s attention, and shaped our culture. By coming together with Netflix, we will ensure people everywhere will continue to enjoy the world’s most resonant stories for generations to come.”

As part of the agreement, all WBD shareholders will receive $27.75 per share, matching the valuation included in the official filing. The deal, once completed, will position Netflix as the owner of one of Hollywood’s most influential studios, expanding its catalogue with legacy films, globally recognised franchises, and premium television brands under HBO.

Further regulatory processes and closing conditions will follow before the acquisition is finalised.

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