New Delhi : Christmas came early for Netflix users. If you’ve ever wondered why classics like Game of Thrones or Harry Potter never made their way to the world’s biggest streaming platform, you won’t have to wonder much longer. The announcement came on Friday, confirming that Netflix and WBD have entered a “definitive agreement” for the sale, which has been unanimously approved by both companies’ boards.
According to Netflix’s SEC filing, the sale’s total equity value sits at $72 billion, with an enterprise value of $82.7 billion, factoring in WBD’s debt. Netflix valued Warner Bros. Netflix co-CEO Ted Sarandos described the merger as a landmark moment for global entertainment, saying, “Our mission has always been to entertain the world. Together, we can give audiences more of what they love and help define the next century of storytelling.”
Meanwhile, WBD CEO David Zaslav celebrated the deal as a creative union of giants, saying, Today’s announcement combines two of the greatest storytelling companies in the world to bring to even more people the entertainment they love to watch the most. The deal is expected to close after Discovery Global, WBD’s Global Networks arm, is spun off as a separate publicly traded company in Q3 2026.
Netflix has confirmed that it plans to “maintain Warner Bros.’ current operations and build on its strengths, including theatrical releases for films.” The company also hinted at bundled or merged content libraries, describing HBO and HBO Max titles as a “compelling, complementary offering” for Netflix subscribers. For film and TV fans, the merger could mean the richest content selection in streaming history, and possibly fewer reasons to subscribe elsewhere.
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