Netflix has agreed to a $72bn (£54bn) deal to secure Warner Bros Discovery’s film and TV studios. It has been reported that the US streaming giant was in exclusive talks over the deal following a bidding war for the assets.
While Netflix has agreed a $27.75 per share price with WBD, which equates to the $72bn purchase figure, the deal gives the assets a total value of $82.7bn. It would see WBD come under Netflix ownership once it’s remaining Discovery Global Division, mostly legacy cable networks including CNN and the TNT sports channels, is separated.
However, the agreement is set to attract scrutiny from competition regulators in Europe and the United States.
Netflix will acquire Warner Bros. film and TV studios, HBO Max/ HBO, and Warner’s content library and production assets. The deal only includes studio + streaming assets; Warner Bros Discovery’s “Global Networks” will be spun into a separate company.”
The deal is expected to close 12-18 months from now, likely in Q3 2026.
Paramount Launches Rival Bid
Paramount Skydance has made another offer to buy Warner Bros Discovery as it seems to trump a rival plan from Netflix. Paramount, which is backed by the billionaire Ellison family, said it was making a direct offer to shareholders of $30 per share to scoop up the whole of Warner Bros, including the traditional television networks.
It said it’s proposal was a “superior alternative” to Netflix’s, delivering more cash upfront to the shareholders and greater prospect of approval by regulators. President Trump has said “there could be a problem” With Netflix’s purchase, pointing to competition concerns given the size of the companies.
This latest bid is the latest twist in the saga that started a few months ago when Paramount started submitting bids to buy Warner Bros.
