Content Crown Jewel: Netflix Acquires Warner Bros. Discovery for $82.7 Billion

Netflix is acquiring a content crown jewel through its announced $82.7 billion purchase of Warner Bros. Discovery. This definitive agreement provides Netflix with one of entertainment’s most valuable and prestigious content libraries while adding significant production capabilities, creating an integrated company with unparalleled resources for global entertainment.
Warner Bros. Discovery shareholders will receive $27.75 per share under the terms of the agreement, establishing total equity value at approximately $72.0 billion. The $82.7 billion enterprise value encompasses Warner Bros. Discovery’s complete portfolio, including iconic film franchises, prestige television programming, production studios, and the highly regarded HBO brand. Both companies’ boards have unanimously endorsed the transaction, reflecting confidence in its execution.
In discussing the acquisition, Ted Sarandos, Netflix’s co-CEO, focused on the exceptional quality of Warner Bros.’ content assets. He described how properties ranging from cinema classics to modern blockbusters will enhance Netflix’s platform, providing subscribers with an entertainment experience that no competitor can replicate. This merger significantly strengthens Netflix’s position in the increasingly competitive streaming market.
David Zaslav of Warner Bros. Discovery expressed enthusiasm about the partnership’s potential to amplify Warner Bros.’ impact. He emphasized that Netflix’s global platform and sophisticated algorithms will maximize the reach and value of Warner Bros. content while preserving the creative excellence that has defined the studio. The transaction represents both companies’ commitment to thriving in an entertainment landscape increasingly defined by streaming distribution and global scale.