In a move that will irrevocably reshape the global entertainment industry, Netflix has officially acquired the studio and streaming assets of Warner Bros. Discovery (WBD). The monumental deal, valued at approximately $82.7 billion, was confirmed today, Friday, December 5, 2025, placing an unparalleled catalog of iconic franchises and content powerhouses under the Netflix banner.
The acquisition means that a vast array of beloved intellectual properties will now reside with the streaming giant. This includes the entirety of HBO and HBO Max, the vast DC Comics universe (Batman, Superman, etc.), the fantastical realms of Harry Potter and Lord of the Rings film rights, and the globally dominant Game of Thrones franchise. Even classic animation stalwarts like Looney Tunes and Scooby-Doo are part of the historic transfer.
While the transaction has been unanimously approved by both boards, it is slated to face intense regulatory scrutiny from antitrust bodies in the U.S. and Europe, with an expected closing in the third quarter of 2026. Prior to the finalization, Warner Bros. Discovery will spin off its traditional cable network division into a separate entity, ensuring that only the core content and studio assets are transferred to Netflix.
The Netflix Acquires Warner Bros Discovery Assets deal solidifies Netflix’s position as the undisputed leader in global entertainment. With a commitment to maintain Warner Bros.’ theatrical releases, this acquisition marks a transformative era, promising to redefine how audiences consume film and television content for decades to come.
