Netflix To Acquire Warner Bros Studio And Streaming Business For $72 Billion

In a landmark deal, Netflix announced that it will acquire Warner Bros., including its film and television studios, HBO Max and HBO. The official social media account of Netflix shared this announcement, along with the details of the deal. The cash and stock transaction is valued at $27.75 per WBD share, along with a total enterprise value of approximately $82.7 billion (equity value of $72.0 billion), reported Tudum on Friday.

Ted Sarandos, co-CEO of Netflix, said in a statement, "Our mission has always been to entertain the world. By combining Warner Bros.’ incredible library of shows and movies—from timeless classics like Casablanca and Citizen Kane to modern favorites like Harry Potter and Friends—with our culture-defining titles like Stranger Things, KPop Demon Hunters and Squid Game, we'll be able to do that even better. Together, we can give audiences more of what they love and help define the next century of storytelling.”

Meanwhile, David Zaslav, President and CEO of Warner Bros. Discovery, said, “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. For more than a century, Warner Bros. has thrilled audiences, captured the world’s attention, and shaped our culture. By coming together with Netflix, we will ensure people everywhere will continue to enjoy the world’s most resonant stories for generations to come.”