Netflix news: Streaming giant to purchase Warner Bros. and HBO Max
Streaming giant Netflix has rocked the film and television industry with news that it's set to acquire Warner Bros.
A deal worth $82.7 billion will see Netflix gobble up Warner Bros. and HBO amid Discovery Global's separation of properties.
Film News Blitz’s Dan Lawrence covers what the key players in the deal have had to say.
Netflix to acquire mega-library of content
This blockbuster deal, if approved by antitrust bodies, is poised to be completed in Q3 of 2026.
It will see Netflix acquire Warner Bros. boastful library of properties, from Harry Potter to the DCU.
Netflix has beaten other interested parties in Comcast and Paramount, the latter of which was prepared to purchase the entirety of the Discover/Warner enterprise.
What Netflix has said
Understandably, the co-chiefs at Netflix are delighted with a deal that could see the streamer monopolise home cinema distribution, acquiring one of their biggest competitors in Warner’s HBO Max.
“Our mission has always been to entertain the world,” said Ted Sarandos, co-CEO of Netflix.
“By combining Warner Bros.’ incredible library of shows and movies—from timeless classics like Casablanca and Citizen Kane to modern favourites like Harry Potter and Friends—with our culture-defining titles like Stranger Things, KPop Demon Hunters and Squid Game, we'll be able to do that even better. Together, we can give audiences more of what they love and help define the next century of storytelling.”
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Greg Peters, co-CEO of Netflix, added, “This acquisition will improve our offering and accelerate our business for decades to come.
“Warner Bros. has helped define entertainment for more than a century and continues to do so with phenomenal creative executives and production capabilities.
“With our global reach and proven business model, we can introduce a broader audience to the worlds they create—giving our members more options, attracting more fans to our best-in-class streaming service, strengthening the entire entertainment industry and creating more value for shareholders.”
What has Warner Bros. said about the Netflix deal?
David Zaslav, President and CEO of Warner Bros. Discovery, has seen the studio increase in value several-fold after he picked up the pieces from former custodians AT&T.
Warner’s has been on one hell of a box office run in 2025, and Zaslav believes the Netflix merger is a win-win.
“For more than a century, Warner Bros. has thrilled audiences, captured the world’s attention, and shaped our culture,” Zaslav said.
“By coming together with Netflix, we will ensure people everywhere will continue to enjoy the world’s most resonant stories for generations to come.”
Staunch opposition
There has been staunch opposition to the Netflix/Warner Bros. deal, not least from the spurned Paramount, which felt its offer was unfairly rebuffed.
Cinema fans, wary of Netflix’s opposition to theatrical releases, are fearful that this experience will be harmed for good, and the likes of The Directors Guild of America, The Writers Guild of America and SAG-AFTRA have voiced concerns around antitrust, monopolisation and more.
Who knows what this will ultimately mean for the cinema and television industry, but whatever happens, Pandora's box has been opened.
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