Netflix to Acquire Warner Bros and HBO Assets in $82.7 Billion Deal
Netflix is set to acquire Warner Bros and HBO assets from Warner Bros Discovery in a transaction valued at about $82.7 billion. This deal will transfer those assets out of Discovery's control, effectively reversing or superseding the Warner Bros Discovery merger that was formed in 2021.
The original merger combined Discovery's reality-TV portfolio with WarnerMedia assets, including HBO, CNN, and Warner Bros. The new agreement will restructure control of these valuable content libraries and brands.
According to a joint press release, the deal is expected to generate more choice, more opportunities, and more value for Hollywood, investors, and viewers. This move is seen as a major shift in the industry, contrasting with Netflix's earlier strategy as an upstart focused on licensing older content.
David Zaslav, CEO of Warner Bros Discovery who led the 2021 mega-merger, has faced criticism as returns lagged, with his pay last year reported at $51.9 million. The transaction marks a significant realignment of media assets and strategic direction in the streaming and entertainment landscape.
