Netflix to acquire Warner Bros and its streaming platform HBO Max for 82.7 billion dollars

Netflix has recently announced a plan to acquire Warner Bros. for approximately 82.7 billion dollars, with the agreement contingent on regulatory and shareholder approval. The acquisition will only proceed after Warner Bros. concludes a previously declared de-merger that separates its cable and Discovery businesses, which is expected to finish in the third quarter of 2026.

The deal would include not only Warner Bros.’ owned IPs like Harry Potter or Lord of the Rings, but also its entire video game division and HBO Max, its streaming platform. Regulatory scrutiny may become a major obstacle, as authorities in several countries may challenge the acquisition over concerns that Netflix would gain excessive market power, given its position as the leading global streaming platform and HBO Max as a close competitor. If a single key regulator blocks the deal, it cannot proceed. Meanwhile, Paramount and Skydance contest Netflix’s offer, saying their own bid was higher and covered the entire company. Paramount argues its proposal would face fewer regulatory issues and is considering appealing directly to Warner Bros. shareholders in a potential hostile takeover, adding further uncertainty to the process.

Netflix has stated it intends to maintain Warner Bros.’ theatrical releases and day to day operations without immediate changes. The long term future of HBO Max as a standalone service remains uncertain, since Netflix is expected to fold much of Warner Bros.’ catalog, including HBO and DC Studios, into its own library. For now, users are told that nothing will change and that HBO Max will stay online until all approvals are completed. Personally, I wouldn’t hold my breath that things will remain the same after that, especially given the steady price hikes and general shitification Netflix has gone through in recent years.