Netflix to buy Warner Bros. film and streaming assets in $72 billion deal | World News
Netflix has struck a $72 billion deal to acquire Warner Bros Discovery’s TV and film studios and streaming division, marking one of the largest transactions in Hollywood hory and giving the streaming giant control of some of the industry’s most iconic franchises.
The agreement, announced Friday, comes after a weeks-long bidding battle in which Netflix topped Paramount Skydance’s $24-per-share offer with a $28-per-share bid for the assets. Warner Bros Discovery shares closed at $24.5 on Thursday, giving the company a market value of $61 billion.
The acquisition hands Netflix ownership of marquee properties including Game of Thrones, DC Comics, and Harry Potter, further consolidating the streaming platform’s dominance in the media landscape.
The deal is expected to face antitrust scrutiny in both the US and Europe, as it would give Netflix control over a major rival, home to HBO Max and nearly 130 million streaming subscribers. Paramount, led David Ellison and which launched the bidding war with multiple offers, has raised concerns over the sale process, alleging preferential treatment toward Netflix.
To address potential regulatory concerns, Netflix has argued that combining its service with HBO Max could benefit consumers through lower bundled pricing. The company has also committed to continuing theatrical releases of Warner Bros films to reassure regulators that it will not eliminate a major source of cinematic content.
(With Inputs from Reuters)
