Topline
Netflix on Friday announced it had reached a deal to acquire Warner Bros.— including the company’s film and television studios and streamer HBO Max—for $82.7 billion, in move that follows a weeks-long bidding war in which the streaming giant beat out Paramount and Comcast.
Warner Bros. Discovery has reportedly entered exclusive talks with Netflix for a sale of its studio and TV businesses.
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Key Facts
In a press statement the company said the cash and stock deal is valued at $27.75 per Warner Bros. Discovery share and it will close after the media giant’s TV network business is spun off into a separate public company, Discovery Global.
The deal is subject to regulatory approvals and is expected to be completed in the third quarter of 2026.
If it goes through, each WBD shareholder will receive $23.25 in cash per share and $4.501 worth of shares of Netflix’s stock.
According to Deadline and CNN, Paramount Skydance had offered $27 per share for the entire Warner Bros. Discovery business, including its cable channels like CNN and TNT.
Comcast also made a bid only for Warner Bros. Discovery’s studio and streaming businesses.
Bloomberg previously reported that Netflix is offering Warner Bros. Discovery a $5 billion breakup fee if regulators don’t clear the deal.
How Has The Market Reacted To Netflix And Wbd’s Talks?
Warner Bros. Discovery’s shares rose 1.22% to $24.84 in premarket trading early on Friday. Netflix shares on the other hand fell 2.33% to $100.81 in early trading, after sliding 0.71% on Thursday.
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Source: https://www.forbes.com/sites/siladityaray/2025/12/05/netflix-will-acquire-warner-bros-in-83-billion-deal-discovery-will-be-split-off/


