In its most audacious move yet, Netflix has announced plans to acquire Warner Bros. Discovery for $82.7 billion, a transaction designed to cement its position as the undisputed leader in streaming entertainment. The definitive agreement brings together two entertainment giants whose combined resources and content libraries create a formidable competitor capable of setting industry standards for years to come.
The acquisition values Warner Bros. Discovery at $27.75 per share, with total equity value reaching approximately $72.0 billion. The overall enterprise value of $82.7 billion reflects a comprehensive valuation of Warner Bros. Discovery’s extensive assets, including iconic film franchises, television properties, and the highly regarded HBO platform. Both companies’ boards have unanimously approved the transaction, demonstrating strong alignment on the strategic merits of this historic deal.
In his statement about the acquisition, Ted Sarandos, Netflix’s co-CEO, focused on the mission-driven aspects of the merger. He emphasized that combining Warner Bros.’ century of storytelling expertise with Netflix’s modern content creation capabilities will enhance the company’s ability to entertain diverse global audiences. The acquisition provides Netflix with instant access to beloved franchises and classic films that will complement its strategy of producing original, culture-defining content.
David Zaslav, leading Warner Bros. Discovery, expressed enthusiasm about joining forces with Netflix. He characterized the merger as an opportunity to ensure Warner Bros.’ legacy endures while adapting to the realities of modern media consumption. By leveraging Netflix’s sophisticated technology platform and global subscriber base, Warner Bros. content will reach audiences in ways that honor its tradition while embracing innovation.