Warner Bros. Discovery is acquired by Netflix for $82.7 billion

Netflix will acquire Warner Bros. Discovery (WBD), including its film and television studios. As well as HBO and HBO Max, for $82.7 billion, the two companies announced Friday in a joint statement.

Netflix’s final offer was $27.75 per share of WBD, compared to the $24 offered by Paramount, which, along with Cromcast, were the three companies interested in acquiring Warner Bros. Discovery.

The transaction is expected to close after the announced spin-off of Discovery Global, the television-focused company that will include CNN, TNT Sports, Discovery+, and free-to-air channels in Europe. This acquisition is expected to be completed in the third quarter of 2026.

Paramount’s offer of $27 per share for 100% of WBD started the bidding process for all or part of the company in October.

Later, Netflix and Comcast entered the two rounds of bidding, with the last round taking place on December 1. However, Discovery Global was not included in their proposals, which were just for a section of the business.

In an open letter yesterday, Paramount accused the process of being biased in favor of Netflix.

Two of the top providers of audiovisual entertainment have merged with Netflix through its acquisition of WBD.

Productions included in the catalog

In addition to Netflix shows including «Wednesday,» «Money Heist,» «Bridgerton,» and «Adolescence,» the collection will feature HBO productions like «The Big Bang Theory,» «The Sopranos,» and «Game of Thrones,» as well as movies like «The Wyrd of Oz» and DC Universe titles.

«Today’s announcement unites two of the world’s leading storytelling companies to bring the entertainment people love to even more people.» Said David Zaslav, chairman and CEO of Warner Bros. Discovery.