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Netflix to Acquire Warner Bros Discovery for $72 Billion
Netflix strikes $72B deal to buy Warner Bros Discovery’s studios and streaming division, combining two media giants and raising antitrust scrutiny.
MH
by Muhammad Hashir
2025-12-05
Netflix to Acquire Warner Bros Discovery for $72 Billion

Netflix has agreed to acquire Warner Bros Discovery’s TV and film studios and streaming division in a $72 billion deal, marking a major consolidation in the entertainment industry. The agreement, announced Friday, would give Netflix control of one of Hollywood’s most iconic studios, including HBO Max, which has nearly 130 million streaming subscribers.

The deal follows a weeks-long bidding war, with Netflix outbidding Paramount Skydance, offering nearly $28 per share compared to Paramount’s $24 per share bid for the entire Warner Bros Discovery portfolio, excluding cable TV assets slated for spinoff.

Netflix’s acquisition is expected to face antitrust scrutiny in the U.S. and Europe, as the merger would combine two major streaming competitors. Netflix has argued that the combination could benefit consumers by offering lower-cost bundled content and pledged to continue releasing Warner Bros films in cinemas, addressing concerns about reducing theatrical options.

Paramount, which launched the bidding war and has close ties to the Trump administration, raised questions about the fairness of the sale process, suggesting Netflix may have received preferential treatment.

This landmark deal reflects the continued shift in the media landscape toward streaming, further cementing Netflix’s position as a dominant global entertainment platform.
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