In one of the most innovative offers the world of streaming has ever seen, Netflix was announced on Friday the acquisition of Warner Bros. with an enterprise value of $82.7 billion.
This deal includes both HBO Max and HBO Studios, marking one of the largest mergers in Hollywood history. By making this move, Netflix not only consolidates its top position, but also significantly strengthens its content library, gaining access to well-known franchises such as DC Comics, “Game of Thrones” and “Harry Potter.”
While Netflix had over 300 million paying subscribers in January, HBO Max, combined with Discovery+, currently has around 128 million subscribers.
In addition, the scale of Netflix’s bid is remarkable, as the streaming giant is investing $72 billion, which surpasses Warner Bros. total market value of $60 billion.
However, this merger is not without its challenges. could face antitrust scrutiny.
In November, Senators Elizabeth Warren, Bernie Sanders and Richard Blumenthal expressed concerns about the potential sale. The trio sent a letter to the Justice Department’s Antitrust Division, stating that any deal would be scrutinized “under a cloud of political favoritism and corruption.”
In addition, various industry players express their views. According to Varietyan anonymous group reportedly sent a letter to Congress urging them to publicly oppose Netflix’s bid.
Techcrunch event
San Francisco
|
13-15 October 2026
Warner Bros. Discovery was officially put up for sale in October, weighed down by debt and disappointing streaming growth. The company has attracted interest from several suitors, with Paramount considered to be the first.
The acquisition is expected to close in the third quarter of 2026, after Warner Bros. Discovery continues its plan to spin off Discovery Global, which includes the collection of pay TV networks such as TNT and CNN.
The companies estimate the transaction, a combination of cash and stock, will be completed within 12 to 18 months.
