Netflix to buy Warner Bros. film and streaming assets in $72 billion deal

[BumRushDaShow]

Source: CNBC

Published Fri, Dec 5 2025 7:11 AM EST Updated 16 Min Ago


Netflix announced Friday it’s reached a deal to buy pieces of Warner Bros. Discovery, bringing a swift end to a dramatic bidding process that saw Paramount Skydance and Comcast also vying for the legacy assets. The transaction is comprised of cash and stock and is valued at $27.75 per WBD share, the companies said. That puts the equity value of the deal at $72 billion, with a total enterprise value of approximately $82.7 billion.

Netflix will acquire Warner Bros.’s film studio and streaming service, HBO Max. Warner Bros. Discovery will move forward with its previously planned spin out of Discovery Global, which includes its massive portfolio of pay TV networks, such as TNT and CNN.

The blockbuster deal brings together the streaming giant Netflix, which has upended the media industry in recent years, and the storied Warner Bros. film studio, known for its library including “The Wizard of Oz,” the Harry Potter franchise and the DC comics universe. It will also include the content of HBO Max, including “The Sopranos” and “Game of Thrones.”

“I know some of you’re surprised that we’re making this acquisition, and I certainly understand why. Over the years, we have been known to be builders, not buyers,” Netflix Co-CEO Ted Sarandos said on an investor call Friday morning.

Read more: https://www.cnbc.com/2025/12/05/neflix-warner-bros-discovery-deal.html

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Skydance/CBS was whining ahead of this so I bet some moves to block this will be underway.

This convoluted mess has some history going back to the '90s when CBS (under Viacom) created "UPN" with Paramount. Eventually CBS grabbed Warner Bros. to form "CW" and UPN went away.

All of this finagling is to get the catalogs of both studios - Warner Bros. and Paramount.

Meanwhile Comcast has held close to the Universal Studios catalog for some time.

One of the other big studio/catalog out there is MGM (and UA), that after their own convoluted ownership dramas, including Ted Turner back in the day (who also created CNN, TBS, and TNT, the later two to air stuff that from the catalog, and eventually rolled into Time-Warner), are now owned by Amazon.

And yet another - Columbia Pictures, is owned by Sony (who has an agreement with Netflix). Finally (of the big ones), there is Disney studios, that is obviously still Disney (owner of ABC). And then there's Fox (20th & 21st Century).

Article updated.

Previous articles/headline -

Published Fri, Dec 5 2025 7:11 AM EST Updated 9 Min Ago


Netflix announced Friday it's reached a deal to buy Warner Bros. Discovery, bringing a swift end to a dramatic bidding process that saw Paramount Skydance and Comcast also vying for the legacy assets.

The transaction is comprised of cash and stock and is valued at $27.75 per WBD share, the companies said. That puts the total enterprise value of the transaction at approximately $82.7 billion, with an equity value of $72 billion.

Netflix will acquire WBD's film studio and streaming service, HBO Max. Warner Bros. Discovery will move forward with its spin out of Discovery Global, which includes its massive portfolio of pay TV networks, such as TNT and CNN, as previously planned.

The blockbuster deal brings together the streaming giant Netflix, which has upended the media industry in recent years and the storied film Warner Bros. film studio, known for its library including "The Wizard of Oz," the "Harry Potter" franchise and the DC comics universe that includes Superman and Batman. It will also add the content of HBO Max, including "The Sopranos" and "Game of Thrones."

Netflix says it's struck a deal to buy Warner Bros. Discovery for $27.75 per share

Published Fri, Dec 5 2025 7:11 AM EST Updated 5 Min Ago


Netflix announced Friday it's reached a deal to buy Warner Bros. Discovery, bringing a swift end to a dramatic bidding process that saw Paramount Skydance and Comcast also vying for the legacy assets.

The deal is comprised of cash and stock and is valued at $27.75 per WBD share, the companies said. That puts the total enterprise value of the transaction at approximately $82.7 billion.

The deal is for WBD's film studio and streaming service, HBO Max. Warner Bros. Discovery will still spin out its TV networks, which includes TNT and CNN, as previously planned.

The acquisition is expected to close after that separation takes place, now expected in the third quarter of 2026.

Original article -

Published Fri, Dec 5 2025 7:11 AM EST Updated 3 Min Ago


Netflix announced Friday it's reached a deal to buy Warner Bros. Discovery, bringing a swift end to a dramatic bidding process that saw Paramount Skydance and Comcast also vying for the legacy assets.

Disclosure: Comcast is the parent company of NBCUniversal, which owns CNBC. Versant would become the new parent company of CNBC upon Comcast's planned spinoff of Versant.


This is breaking news. Please refresh for updates.

[OldBaldy1701E]

1. Monopoly, monopoly... look at what you've done to me!

(Sung to the tune of 'Tragedy' by The Bee Gees)

Those vultures will not rest until they live out the 'Highlander' movie over and over.

'There can be only one' my ass.

[ancianita]

7. Netflix was first on the market almost 30 years ago, when it offered DVD movies to people for $5-$10 per month!

Because it was first its streaming service was already larger in structure and operating budget than the much later streaming services.

Netflix is the most-subscribed video on demand streaming media service, with 301.6 million paid memberships in more than 190 countries worldwide.
Its own film and tv series' productions account for half of its library in the United States. After 2000 the company ventured into other categories, such as video game publishing of mobile games through its flagship service.
As of 2025, Netflix is the 18th most-visited website in the world, with 21.18% of its traffic coming from the United Statesas of 2025.

So no, Netflix is not a monopoly, since there are over major players like Netflix, Disney+, Max, and Prime Video exist, along with 20 other streaming services in the U.S. alone.

[OldBaldy1701E]

9. I meant it more as an outcome of their desire to keep growing.

And growing. And growing.

[ancianita]

10. So are you implying that's a bad thing?

Just sayin'...maybe consider learning more about it.

Netflix is available in every country and territory except for China, North Korea, Syria, and Russia.
January 2016, Netflix announced it would begin VPN blocking since it can be used to watch videos from a country where they are unavailable. Such blocking is used to a) enforce regional licensing agreements for streaming services and prevent users from accessing content outside of their authorized geographic area, and b) block anonymous users who may be spammers or hackers from accessing their content. The result of the VPN block is that people can only watch videos available worldwide and other videos are hidden from search results.

It's also originally produced some great quality, for which it's won awards.

January 2025, Netflix received 18 Academy Award nominations across six titles—the most of any studio.[517] Thirteen of those nominations belonged to the musical crime drama Emilia Pérez, making it the most nominated film of the year and the most nominated non-English language film in Academy history. Emilia Pérez ultimately won an award for Best Original Song for "El Mal" and Zoe Saldaña was awarded Best Supporting Actress. Other Netflix films recognized with nominations were The Only Girl in the Orchestra, which took home the award for Best Documentary Short, Pablo Larraín's Maria, Tyler Perry's The Six Triple Eight, animated feature Wallace & Gromit: Vengeance Most Fowl, and live-action short film Anuja.[518]

In July 2025, Netflix received 120 Emmy nominations, including 13 nods for Adolescence, 11 for Monsters: The Lyle and Erik Menendez Story and 10 for Black Mirror.[519] It won 30, including eight for Outstanding Limited or Anthology Series winner Adolescence. The show's star, Owen Cooper, was the youngest Emmy winner ever in any male acting category at 15 years old.

https://en.wikipedia.org/wiki/Netflix

[OldBaldy1701E]

11. Everything is finite.

Growing has to stop at some point, or one gets nothing but monopolies.

Greed has to stop at some point, or there will be nothing left for anyone outside of the 'clique'.

Regardless of their content, their occasionally making good entertainment does not excuse their greed, nor their desire to 'have it all'.

Otherwise, why buy Warner? Why buy anything if you are 'the best'?

So yes... it is a very bad thing.

[ancianita]

12. Not in electronics and the Internet, or there wouldn't be quantum computing already.

This thing with buying Warner is not a monopolistic "thing," though, because there are at least 90 streaming options, according to Nielsen.

This gives subscribers in the US and worldwide a huge range of films, games, animation, etc, as well as Netflix's own produced films.

Distributors that have licensed content to Netflix include Warner Bros., Universal Pictures, Sony Pictures Entertainment and previously The Walt Disney Studios.[45] Netflix also holds current and back-catalog rights to television programs distributed by Walt Disney Television, DreamWorks Classics, Kino International, PBS, Warner Bros. Television[438] and Paramount Global Content Distribution,[439] along with titles from other companies such as ABS-CBN Studios,[440] GMA Pictures,[441] Cignal Entertainment, MQ Studios, Regal Entertainment, Viva Films, MNC Media, Screenplay Films, Soraya Intercine Films, Falcon Pictures [id], MD Pictures [id], Rapi Films, Starvision Plus [id], CJ ENM, JTBC, Kakao Entertainment, TBS, TV Asahi, Fuji TV, Mediacorp, Primeworks Studios, GMM Grammy, Public Television Service, Gala Television, ITV Studios, Hasbro Entertainment and StudioCanal. Formerly, the streaming service also held rights to select television programs distributed by NBCUniversal Television Distribution, Sony Pictures Television and 20th Century Fox Television.

These companies are all interrelated and have been for a long time -- there is no "sooner or later" monopolistic drive involved -- because first-to-market Netflix offers them worldwide streaming distribution.

I say it's a good thing.

[Bengus81]

13. To watch NFL games on Christmas day (3) requires TWO pay for view streaming services

This kind of shit keeps invading the NFL more and more and more. Coming soon to the Super Bowl.

[Bengus81]

14. To me it isn't about who, it's about the consolidation. Now the Charter/Cox merger is a done deal

Ever seen one of those when customers don't get boned by huge rate hikes? I haven't. Cox has a mere 23% interest in the merger so Charter/Spectrum is now calling the shots.

Hell,where I live Waste Connections and Waste Management have now managed to buy out every independent trash hauler. Going back 10 years ago there were 12 trash services to choose from.

[RedArkGuy]

16. Oh dear

Emilia Perez was practically the equal of Reefer Madness only instead of spreading hysteria against pot, it did so against transpeople.

Zoe Saldana has never struck me as especially intelligent, but I hope she eventually feels some shame from being a part of that trash.

[lostincalifornia]

2. trump has made it clear he wants the Paramount/trump loving Ellison to win this, so I won't be surprised if he

personally interferes with this so that happens.

[RedArkGuy]

17. The only hope to avert that

. . . is drag it out in the courts until possibly a Democratic administration takes office and controls the DOJ after January 20, 2029.

That's a long damn time to try to drag something like this out.

[Fiendish Thingy]

3. Better than the WB library going to Paramount and the Ellisons

My guess is the Trump admin will block the purchase.

BTW, Disney owns 20th Century Fox and its library- purchased it a few years back for billions.

[Auggie]

8. Agreed! I was hoping it would be Netflix.

[TexasBushwhacker]

22. I was thinking the same thing

At least it's not going to the nepo baby doofus.

[valleyrogue]

4. If there is anything I really want, I just buy it on DVD/BluRay.

Tangible media isn't subject to the uncertainty of streaming services archives.

[Ouroborosnek]

20. There has been talk of

a movement back to analog/physical media. I've been slowly collecting older video games, as well as vinyl records. I also like getting older games on sale from Good Old Games, since they are DRM-free and can be kept offline.

[valleyrogue]

21. Not only those, but also film cameras, which I don't understand.

They were a pain in the butt because you didn't know what was going to show up once you got those pictures developed. I got into the habit of taking at least two film cameras for every vacation and visit and reducing my chances of screwing up.

I still do that with digital. However, digital takes a lot of the guesswork out of photography.

[kimbutgar]

5. I hope it goes though instead of a Reich winger buying those assets.

[slightlv]

6. All I can see is a bunch millionaires becoming billionaires

while I try to rejigger my streaming services to see the entertainment I want, while not paying for what I DON'T want. Geesh! Isn't the reason I dumped cable in the first place?! Damn...

[RedArkGuy]

15. So we proponents of journalism independent of Trump fealty are

. . . in the position of having to root for Warner and Netflix to combine, two media behemoths to combine and take a further step toward a media monopoly. Because we don't want Paramount Plus to own both CBS News AND CNN.

And CNN is not any great shakes as it stands now.

Just wonderful the way things are these days.

[BumRushDaShow]

18. Remember that these studios have been bouncing around for decades

What was "Time-Warner" (the merger between Time and Warner) came about in 1990 (and Paramount was whining trying to block that back then - 35 years ago). Aol jumped into that combo a decade later to form "Aol Time Warner", and it has been continual merging and breaking up and spinning off... merging and breaking up, and spinning off ever since.

Deregulation.

[Ouroborosnek]

19. It has been interesting

To watch the movement from "cutting the cord" to cable, to what the streamers have become. I remember quickly returning DVDs to Netflix so I could get the next disc while I got caught up on Battlestar Galactica and Dexter. Their streaming library started very small, but it has since become the largest collection ever assembled.

On that note, I'm several seasons behind on Stranger Things. I think it's time to dive in, perhaps in time for the theatrical release finale.