Netflix will acquire Warner Bros. Discovery (WBD), including the film and television studios, as well as HBO and HBO Max, for $82.7 billion, the two companies announced this Friday in a joint statement.
Netflix’s final offer was $27.75 per WBD share, compared to the $24 that Paramount had proposed, which along with Cromcast were the three interested in the acquisition of Warner Bros. Discovery.
The transaction is expected to close following the announced separation of Discovery Global, the television-focused company, which will encompass CNN, TNT Sports, Discovery+ and free-to-air channels in Europe. This operation is expected to be completed in the third quarter of 2026.
Also read: Paramount denounces that Warner Bros. purchase process favors Netflix: CNBC
Bidding for all or part of WBD began in October with Paramount offering $27 per share for 100 percent of the company.
Netflix and Comcast later joined the bidding, which had two rounds, the last on December 1. But their offers were only for part of the company, not including Discovery Global.
Paramount yesterday denounced bias in the process in an open letter, alleging that it favored Netflix.
The purchase of WBD by Netflix represents the merger of two of the main audiovisual entertainment companies.
Warner Bros. Discovery CEO confirms acquisition
The catalog will include HBO productions such as “The Big Bang Theory”, “The Soprano” or “Game of Thrones”, or films such as “The Wyzard of Oz” and the DC universe, which will join Netflix series such as “Wednesday”, “Money Heist”, “Bridgerton” or “Adolescence”.
“Our mission has always been to entertain the world,” Ted Sarandos, co-CEO of Netflix, said in the statement. “By combining Warner Bros.’ incredible collection of TV shows and movies – from timeless classics like ‘Casablanca’ and ‘Citizen Kane’ to modern classics like the Harry Potter saga – with culture-defining titles like ‘Stranger Things,’ ‘KPop Demon Hunters’ and ‘The Squid Game.'”
While the president and CEO of Warner Bros. Discovery, David Zaslav, said that “today’s announcement unites two of the most important storytelling companies in the world to bring the entertainment they enjoy most to even more people.”
With information from EFE
Little text and great information in our X, follow us!
