Netflix to Acquire Warner Bros Film and Streaming Businesses for $72 Billion
Netflix has announced plans to acquire Warner Bros film and streaming businesses, including HBO and TNT Sports operations outside the US, in a deal valued at about $72 billion. This acquisition would significantly consolidate Netflix's catalogue and production capacity, expanding its subscriber base by adding HBO's approximately 128 million subscribers to its existing 300+ million.
The transaction is targeted for completion within 12 to 18 months but is not yet finalized as it awaits regulatory approvals and the completion of necessary corporate spin-offs. Warner Bros Discovery must first complete the spin-off of CNN, Discovery, and Eurosport. Additionally, a rival bid from Paramount Skydance could emerge as an alternative to the deal.
US and European antitrust regulators are reviewing the transaction with the potential to block or impose conditions on the deal. The outcome largely depends on how these regulators define the competitive landscape in the entertainment industry.
The announcement has elicited mixed reactions from political and industry figures. Some politicians and industry insiders have expressed concerns, with officials familiar with the Trump administration reportedly viewing the bid with significant skepticism. Notably, filmmaker James Cameron warned that the deal could be a disaster.
Despite the move towards a streaming-dominant future and ownership of major properties like DC, Netflix has pledged to continue releasing some films in cinemas as part of its broader strategy.
