Netflix Acquires Warner Bros. Discovery Studios for $72 Billion | 5 December 2025 Mega Deal

Netflix’s Historic $72 Billion Acquisition of Warner Bros. Discovery Studios and Streaming Unit

On December 5, 2025, the global media landscape shifted dramatically as Netflix officially announced a landmark agreement to acquire Warner Bros. Discovery’s (WBD) film and television studios along with its streaming division. The deal, confirmed by multiple reputable sources including Reuters, represents one of the largest media acquisitions in history.

According to the official details, the acquisition assigns Warner Bros. Discovery an equity value of $72.0 billion, while the complete enterprise value amounts to approximately $82.7 billion, including debt obligations. Analysts consider this the most significant strategic expansion Netflix has undertaken since its inception.

As part of the agreement, WBD shareholders will receive $27.75 per share, consisting of $23.25 in cash and $4.50 in Netflix stock. The offer reflects a sizable premium over WBD’s recent trading range, indicating Netflix’s strong interest in strengthening its production and streaming capabilities.

Once finalized, the acquisition will add Warner Bros.’ iconic portfolio to Netflix’s content empire. This includes major franchises such as Harry Potter, The Dark Knight Trilogy, DC Universe, Godzilla, Dune, The Matrix, and numerous award-winning television series. HBO Max and other WBD streaming services will also be integrated, significantly expanding Netflix’s global library and distribution power.

Industry experts describe Netflix’s move as a calculated response to the intensifying competition within the streaming market. Platforms like Disney+, Amazon Prime Video, and Apple TV+ have been rapidly capturing global audiences, while content licensing costs continue to rise. By owning a major Hollywood studio and its intellectual property, Netflix positions itself to dominate both content creation and global streaming for years to come.

However, the deal is subject to regulatory approval. Antitrust authorities in the United States and the European Union are expected to closely examine the merger to ensure it does not limit competition or result in excessive market concentration. Such reviews can span several months, especially for mega-mergers involving entertainment giants.

If approved, the acquisition will transform Netflix from a streaming service into a full-fledged global media powerhouse. The combined strengths of Warner Bros.’ century-old production legacy and Netflix’s digital reach could reshape the entertainment industry, setting new standards for content scale, distribution, and global influence.

This strategic merger marks a decisive turning point for Netflix as it transitions into one of the most powerful content owners and distributors in media history.