Netflix announced that it is acquiring Warner Bros. Discovery with a company stock valuation of $27.75. The total value of the deal is approximately $82.7 billion.
The deal is planned to be completed after Warner Bros. separates Discovery Global into a new public company. This is expected to happen in the third quarter of 2026.
In addition to acquiring Warner Bros., the deal also gives Netflix control over the company's television and theatrical studios, as well as HBO and HBO Max.
The streaming platform's catalog will be supplemented by shows such as "The Big Bang Theory," "The Sopranos," "Game of Thrones," "The Wizard of Oz," films based on DC comics, and others.
"Our mission has always been to entertain the world," said Ted Sarandos, co-chairman of Netflix.
"By combining Warner Bros.' incredible library of series and films — from timeless classics like 'Casablanca' and 'Citizen Kane' to modern favorites like 'Harry Potter' and 'Friends' — with our culturally defining projects like 'Stranger Things,' 'K-Pop: Demon Hunters,' and 'Squid Game,' we can do it even better. Together, we can give viewers more of what they love and help define the next era of storytelling."
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