Netflix to Acquire Warner Bros. in Landmark $83 Billion Deal, While Discovery Assets Get Spun Off

Streaming giant Netflix has struck a blockbuster deal to acquire the film and television studios of Warner Bros. Discovery (WBD) — including its vast content library, studios, and streaming assets — in a cash‑and‑stock transaction valued at roughly US$82.7 billion in enterprise value (about US$72 billion in equity value). Under the terms, WBD shareholders will receive US$27.75 per share. The agreement covers major assets such as WBD’s film and TV studios, streaming platforms (including HBO Max), and iconic franchises — from superhero sagas to blockbuster film series. Meanwhile, WBD’s linear cable‑network business (e.g., channels like CNN, TNT, TBS) will be spun off into a separate entity, known as Discovery Global, which will remain independent of Netflix. The acquisition comes after a competitive bidding war involving major media players such as Paramount Skydance and Comcast — but Netflix ultimately prevailed with the most attractive offer. The deal is slated to close by the third quarter of 2026, after regulatory approval and completion of the assets’ spin‑off. With this move, Netflix positions itself as a global powerhouse in entertainment, combining its direct‑to‑consumer streaming strength with decades-old film and television legacy content. The company argues the merger will deliver more value to subscribers through a broader content library and creative opportunities — though critics warn it could stifle competition and put pressure on theatrical and independent film distribution. #Netflix #WarnerBros #StreamingWars #MediaMerger #SlimScan #GrowthStocks #CANSLIM