Netflix to Acquire Warner Bros. Discovery in Landmark $83 Billion Deal

Netflix has reached an agreement to acquire Warner Bros. Discovery in a deal worth nearly $83 billion, the companies announced on Friday — marking one of the biggest mergers in entertainment history.

The acquisition will give Netflix ownership of Warner Bros.’ extensive film library as well as access to HBO Max, positioning it as the largest industry consolidation since Disney purchased Fox for $71 billion in 2019.

Under the terms, Warner Bros. Discovery is valued at $27.75 per share, representing an equity value of about $72 billion and a total enterprise value — including debt — of roughly $82.7 billion. The company’s stock ended Thursday’s Nasdaq trading at $24.54.

Warner Bros., a studio behind legendary classics such as Casablanca and Citizen Kane, and modern global successes like The Sopranos, Game of Thrones, and the Harry Potter franchise, will now become part of Netflix’s expanding empire.

“Together, we can give audiences more of what they love and help define the next century of storytelling,” said Ted Sarandos, Netflix co-CEO, referencing the streamer’s hits such as Stranger Things, KPop Demon Hunters, and Squid Games.

Warner Bros. Discovery CEO David Zaslav hailed the agreement, saying, “Today’s announcement combines two of the greatest storytelling companies in the world.”

The boards of both companies have unanimously approved the deal, which is expected to be finalized within 12 to 18 months.

Opinion Nigeria News