Netflix Acquires Warner Bros. Discovery in Historic $83 Billion Entertainment Industry Merger

Dec 05, 2025 08:53 pm CST

Netflix has agreed to acquire Warner Bros. Discovery for approximately $83 billion, creating an entertainment powerhouse with access to Warner's extensive film catalog and HBO Max. The deal, valued at $27.75 per share, represents the largest consolidation in entertainment since Disney's acquisition of Fox in 2019 and is expected to close within 12-18 months after receiving unanimous board approval from both companies.