Netflix has agreed to purchase Warner Bros Discovery’s film and streaming divisions for $72bn, beating out competitors after a lengthy bidding process. The deal adds major franchises like Harry Potter and Game of Thrones, as well as the HBO Max streaming service, to Netflix’s portfolio. Netflix leaders said they are confident regulators will approve the takeover and emphasized the potential of combining Warner Bros’ catalogue with Netflix originals such as Stranger Things.
They stressed that HBO’s brand will remain important, though details of how it will be integrated are still undecided. Netflix expects $2bn to $3bn in savings through reduced overlap in technology and support operations. Warner Bros films will continue to debut in cinemas, and its TV studio will still be allowed to produce shows for outside platforms. Industry voices warn the merger could harm cinemas and may face pushback over potential reductions in film and TV output. Analysts say the takeover signals Netflix’s ambition to dominate global streaming, though it could also result in higher consumer prices if approved.
Game of Thrones