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How Netflix Won Hollywood's Biggest Prize, Warner Bros Discovery
The $72 billion deal would add nearly 130 million HBO Max subscribers to Netflix’s 300 million, creating the largest streaming library with iconic franchises and classic films.
- Netflix announced a $72 billion deal to acquire Warner Bros. Discovery and HBO Max, emailing subscribers on Dec. 6 that the services will remain separate until the transaction closes.
- After decades of organic growth, Netflix shifted to an offensive acquisition strategy to amass franchises and content libraries, marking its largest deal with Warner Bros. Discovery.
- The companies expect the merger to be completed in the third quarter of 2026 after Warner Bros. Discovery splits off its Global Networks division, and Netflix said more steps remain including regulatory and shareholder approvals.
- Voices across the political spectrum and industry raised antitrust concerns, with Paramount lawyers warning the deal would `entrench and extend Netflix’s global dominance`.
- The combined scale positions the company as a dominant streaming and studio force, adding HBO Max's nearly 130 million subscribers to Netflix's 300 million, reshaping the entertainment landscape.
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Is the Netflix–Warner Bros Discovery deal headed for market and regulatory challenges? Here’s the outlook
Netflix on Friday stunned the media when it announced that it had emerged as the winner of a three-way fight to buy Warner Bros Discovery, paying $72 billion for the acquisition of the iconic film studio and its streaming service HBO Max.
·New Delhi, India
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Buying Warner Bros. would strengthen Netflix's investment in gaming.
Coverage Details
Total News Sources12
Leaning Left5Leaning Right0Center2Last UpdatedBias Distribution71% Left
Bias Distribution
- 71% of the sources lean Left
71% Left
L 71%
C 29%
Factuality
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