Netflix Agrees $72 Billion Deal to Acquire Warner Bros Discovery Film and TV Studios
Netflix has agreed to a blockbuster $72 billion deal to acquire Warner Bros Discovery's film and TV studios. This acquisition will enable Netflix to boost its content library with rights to popular franchises such as Harry Potter and Game of Thrones.
The deal came after exclusive talks and a competitive bidding war involving rivals like Paramount, Skydance, and Comcast. Netflix agreed on a price of $27.75 per share.
The transaction is expected to face regulatory scrutiny from competition authorities, particularly in the United States. Paramount may lodge a complaint regarding the bidding process, according to CNBC.
Industry outlets, including Variety, have warned of a potential Hollywood institutional crisis if the deal is blocked by regulators. Notably, the deal excludes Warner Bros Discovery's cable networks, such as CNN and TNT sports channels.
