Netflix Acquires Warner Bros. for USD 82.7 Billion: The Streaming Platform Now Owns Game of Thrones, Harry Potter, DC Universe, and More
The bidding war for Warner Bros. has finally come to an end with Netflix announcing a USD 82.7 billion acquisition of the motion picture and entertainment studio. Fan-favorite films and shows which includes Game of Thrones, The Big Bang Theory, Harry Potter, as well as the DC universe now belong to the streaming giant.
Read more about the update below.
Netflix Confirms its Acquisition of Warner Bros.
This Friday on the 5th of December 2025, after fighting multiple bidders like Paramount and Comcast, Netflix has managed to acquire Warner Bros. and all of its film and TV assets, along with HBO and HBO Max. As per what has been revealed, the cash and stock transaction has been valued at USD 27.75 per share (of WBD), totaling around USD 82.7 billion (equity value – USD 72.0 billion). Following the planned separation of Discovery Global from Warner Bros. Discovery into another publicly-traded company in Q3 2026, the acquisition of Warner Bros. by Netflix and its transaction will be completed.
Notably, the landmark acquisition has brought together two pioneering entertainment brands, and the popular movies and shows from Warner Bros. will be joining the portfolio of Netflix. Thus, Game of Thrones, The Big Bang Theory, Harry Potter, The Wizard of Oz, The Sopranos, as well as the entire DC universe, and the leading Netflix content like Money Heist, Adolescence, Wednesday, Bridgerton, Extraction, among others, will be brought under the same umbrella.
Also to note, under the announced transaction, all WBD shareholders are said to receive USD 23.25 in cash, and also USD 4.50 worth (per share) of Netflix stocks. Additionally, complementary strengths and assets, a stronger entertainment platform, more choice and greater value for consumers, and more opportunity for the creative community are other benefits that can be expected out of this acquisition.
