Netflix
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Netflix to Acquire Warner Bros. Following the Separation of Discovery Global for a Total Enterprise Value of $82.7 Billion (Equity Value of $72.0 Billion) - About Netflix
HOLLYWOOD, Calif., Dec. 5, 2025 -- Today, Netflix, Inc. (the Company) and Warner Bros. Discovery, Inc.
In the News
Videos
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potential business transaction
Factsheet
Target Warner Bros. Streaming & Studios (Netflix, Inc./Comcast Corporation)
Warner Bros. Discovery (Paramount Skydance)
Discovery Global Linear Networks (Starz Entertainment)
Warner Bros. Discovery (Paramount Skydance)
Discovery Global Linear Networks (Starz Entertainment)
Type Full acquisition (includes Streaming & Studios and Global Linear Networks for each company) (Netflix, Inc./Starz Entertainment)
Full acquisition (includes Streaming & Studios and Global Linear Networks for each company) (Comcast Corporation/Starz Entertainment)
Full acquisition (Paramount Skydance Corporation)
Full acquisition (includes Streaming & Studios and Global Linear Networks for each company) (Comcast Corporation/Starz Entertainment)
Full acquisition (Paramount Skydance Corporation)
Target Warner Bros. Streaming & Studios (Netflix, Inc./Comcast Corporation)
Warner Bros. Discovery (Paramount Skydance)
Discovery Global Linear Networks (Starz Entertainment)
Warner Bros. Discovery (Paramount Skydance)
Discovery Global Linear Networks (Starz Entertainment)
Type Full acquisition (includes Streaming & Studios and Global Linear Networks for each company) (Netflix, Inc./Starz Entertainment)
Full acquisition (includes Streaming & Studios and Global Linear Networks for each company) (Comcast Corporation/Starz Entertainment)
Full acquisition (Paramount Skydance Corporation)
Full acquisition (includes Streaming & Studios and Global Linear Networks for each company) (Comcast Corporation/Starz Entertainment)
Full acquisition (Paramount Skydance Corporation)
Wikipedia
en.wikipedia.org › wiki › Proposed_acquisition_of_Warner_Bros.
Proposed acquisition of Warner Bros. - Wikipedia
20 hours ago - The new offer of Warner Bros. Discovery for Paramount would now be $33 per share for $90 billion, while the new offer of Warner Bros. for Netflix would now be $30.75 per share for $86 billion.
CNN
cnn.com › 2025 › 12 › 17 › media › warner-bros-chose-netflix-over-paramount-again-now-what
Warner Bros. chose Netflix over Paramount — again. Now what? | CNN Business
3 days ago - Early Wednesday morning, Warner Bros. Discovery, CNN’s parent company, published a letter to shareholders and an SEC filing, formally rejecting Paramount’s latest offer for the entire company, deeming the hostile takeover bid “illusory.” · The current deal to sell Warner’s studios and streaming assets to Netflix, the board said, is still better for WBD shareholders.
Netflix
ir.netflix.net › investor-news-and-events › financial-releases › press-release-details › 2025 › NETFLIX-TO-ACQUIRE-WARNER-BROS--FOLLOWING-THE-SEPARATION-OF-DISCOVERY-GLOBAL-FOR-A-TOTAL-ENTERPRISE-VALUE-OF-82-7-BILLION-Equity-Value-of-72-0-Billion › default.aspx
Netflix - NETFLIX TO ACQUIRE WARNER BROS. FOLLOWING THE SEPARATION OF DISCOVERY GLOBAL FOR A TOTAL ENTERPRISE VALUE OF $82.7 BILLION (Equity Value of $72.0 Billion)
Today, Netflix, Inc. (the Company) and Warner Bros. Discovery, Inc. (WBD) announced they have entered into a definitive agreement under which Netflix will acquire Warner Bros., including its film and television studios, HBO Max and HBO. The cash and stock transaction is valued at $27.75 per ...