Netflix Is Buying Warner Bros. And HBO. Here's What This Means For Your Favorite Movies And Shows

Netflix Is Buying Warner Bros. and HBO. Here’s What This Means for Your Favorite Movies and Shows

Last updated: 2025/12/07 at 2:28 AM

News Room Published 7 December 2025

It’s official: Netflix is set to acquire Warner Bros’ studios, HBO Max, and HBO in a deal valued at $82.7 billion.

With these acquisitions, Netflix will now own Warner Bros film and television studios as well as TV and movie franchises like Game of Thrones, The Sopranos, The Wizard of Oz, and the DC Universe.

This is Netflix’s biggest acquisition ever. The streamer won the bid after offering to pay $27.75 for each Warner Bros. Discovery (WBD) share, of which $23.25 will be paid in cash, and $4.50 will be paid in shares of Netflix common stock. The deal was unanimously approved by Netflix and WBD’s boards, a press release states.

Paramount-Skydance and Comcast were some of the other parties interested in the acquisition. Paramount reportedly wanted to acquire all of WBD, which includes its cable networks like CNN, TNT, and TBS. Comcast, on the other hand, wanted the studios and HBO Max.

The bidding process had its share of drama, with Paramount claiming it was unfair. WBD has “embarked on a myopic process with a predetermined outcome that favors a single bidder,” Paramount wrote in a letter on Wednesday to WBD CEO David Zaslav, viewed by The Wall Street Journal. The company also warned WBD about the regulatory challenges Netflix’s acquisition would bring.

How Will This Deal Impact Your Streaming Subscriptions?

For now, WBD is splitting into two. Netflix will take the studios and streaming business, while the cable networks will be bundled into a separately traded public company. The split is expected to be completed in Q3 2026.

Netflix viewers, on the other hand, can expect a larger library and the possibility of a price hike to go with it.

“By adding the deep film and TV libraries and HBO and HBO Max programming, Netflix members will have even more high-quality titles from which to choose. This also allows Netflix to optimize its plans for consumers, enhancing viewing options and expanding access to content,” the streamer said.

With much more streaming content coming under one roof, it wouldn’t be surprising if regulators take a closer look at the acquisition for potential anti-competitive concerns.

Streaming aside, the deal also pushes Netflix into a territory it has traditionally stayed away from: the theatrical business. “Netflix expects to maintain Warner Bros.’ current operations and build on its strengths, including theatrical releases for films,” the press release states.