Netflix to Acquire Warner Bros Discovery’s Studios and Streaming Arm in $72 Billion Deal
Netflix agreed on Friday to acquire Warner Bros Discovery’s TV, film studios, and streaming division for $72 billion, and the move marks a significant shift in Hollywood’s power structure. The deal signals Netflix’s evolution from a boundary-pushing disruptor into a full-scale studio, and it reshapes expectations across the industry. Although the company once focused on redefining viewing habits, it now steps firmly into the world long dominated by traditional studios.
The agreement followed a competitive bidding contest, and Netflix ultimately offered nearly $28 per share. This surpassed the bid from Paramount Skydance, which had made several unsolicited attempts to purchase all of Warner Bros Discovery, including cable assets slated for a future spinoff. As the process unfolded, investors reacted quickly, and market movements reflected the heightened tension.
Content Expansion and Competitive Pressure
The acquisition gives Netflix access to a century-deep library of films and series, including major franchises such as “Game of Thrones,” “Harry Potter,” and DC’s lineup of superheroes. Because Netflix already produces a broad range of original content, this extensive archive further strengthens its global storytelling capabilities. Moreover, the combined assets position the company to compete more aggressively as streaming platforms continue consolidating.
Warner Bros Discovery shares rose 3.2% to $25.33 after the announcement, while Netflix slipped 0.2% and Paramount fell 6.1%. Paramount and Comcast did not immediately respond to requests for comment. Reports suggested that Paramount had offered $30 per share and considered approaching shareholders directly, though these details have not been independently confirmed.
Industry Reactions and What Comes Next
The proposed merger is expected to face regulatory scrutiny, particularly because it unites two major players in the streaming market. Even so, Netflix has emphasized that the deal will increase U.S. production and expand investment in original programming. Since the industry continues moving toward large-scale consolidation, competitors may soon respond with strategic adjustments of their own.
Although several questions remain regarding regulatory approval and the overall timeline, the acquisition signals a major turning point for the entertainment landscape. With an expanded content library and a broader studio operation, Netflix appears positioned to shape the industry’s future more forcefully than ever.
