Netflix has finalised a landmark US$72 billion acquisition of Warner Bros Discovery’s film studios and streaming division, ending a fiercely contested bidding battle that unfolded over several weeks and drew major interest from Paramount Skydance.
The blockbuster deal hands Netflix control of some of the world’s most valuable entertainment franchises—including Game of Thrones, the DC Comics universe, and the Harry Potter film series—dramatically expanding its reach across Hollywood and the global content industry.
Announcing the agreement on Friday, Netflix co-CEO Ted Sarandos described the acquisition as a defining moment in the company’s evolution and its ambition to shape the future of entertainment.
Related Stories
“Our mission has always been to entertain the world,” Sarandos said.
“By combining Warner Bros’ incredible library of shows and movies—from timeless classics like Casablanca and Citizen Kane to modern favourites like Harry Potter and Friends—with our culture-defining titles like Stranger Things, K-Pop Demon Hunters, and Squid Game, we’ll be able to do that even better. Together, we can give audiences more of what they love and help define the next century of stoytelling.”
The merger ranks among the largest entertainment acquisitions in history and signals a major realignment of the streaming landscape, positioning Netflix to reinforce—if not cement—its dominance in a sector undergoing rapid consolidation.
I
Leave Comments