- Netflix is acquiring Warner Bros. for £54 billion, pending competition authority approval
- Warner Bros.’ library, including Harry Potter, DC franchises, and HBO content, will enhance Netflix’s offerings
- HBO and HBO Max expected to operate independently, while expanding the synergy of streaming content for users
Netflix has agreed to buy Warner Brothers’ film, television and streaming businesses for £54 billion ($72 billion), in a monumental deal.
The streaming service managed to fend off advances from rivals Comcast and Paramount Skydance, following a drawn-out bidding war between the entertainment giants.
Of the merger, Warner Bros. president and chief executive David Zaslav described the agreement as a coming together of ‘two of the greatest storytelling companies in the world.’
He continued: ‘By coming together with Netflix, we will ensure people everywhere will continue to enjoy the world’s most resonant stories for generations to come.’
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The deal, which still has to be approved by a board of federal regulators, will combine Warner Bros.’ gigantic library of film and television series with those already offered by Netflix – including the recently-released Stanger Things Season 5.
But what does this mean for viewers at home?
What does Warner Bros own? (And what Netflix gets in the deal)
Warner Bros. is the studio behind the Harry Potter and Lord of the Rings films, and DC Studios franchises – which includes Batman, Superman and Wonder Woman.
In addition to its film library, Warner Bros. also owns the streaming service HBO Max, which airs Game of Thrones (and all of its spin-offs), The Last Of Us, The Sopranos, The White Lotus and Succession.
This also includes the upcoming Harry Potter television reboot, which is in production now and expected to debut on Max in 2027.
Under its film and television umbrella comes Warner Bros. Pictures, New Line Cinema, Warner Bros. Pictures Animation, Castle Rock Entertainment and the Warner Bros. Television Group.
Recent releases under these banners include Barbie, One Battle After Another, Final Destination: Bloodlines and the Stephen King spin-off IT: Welcome to Derry.
How will the merger affect HBO and Max?
According to details accompanying the sale, HBO and Max (formerly HBO Max) will continue to operate independently from Netflix.
‘HBO and HBO Max also provide a compelling, complementary offering for consumers,’ a statement published on About Netflix shared.
This means that currently-airing series like Succession and The White Lotus are expected to continue their current course… while classics from the HBO and Max catalogue could be Integrated to Netflix over time.
Films under the various Warner Bros. banners are also expected to operate as before, ‘including theatrical releases for films.’
All the biggest properties Netflix will get from Warner Bros
Properties owned by Warner Bros. which would fall under Netflix’s control include:
- Adult Swim
- Beetlejuice
- The Big Bang Theory
- Casablanca
- Citizen Kane
- The Conjuring
- DC Comics (Batman, Superman, Wonder Woman)
- Final Destination
- Friends
- Game of Thrones
- Gremlins
- The Goonies
- Harry Potter
- HBO / HBO Max
- IT
- The Matrix
- MonsterVerse (distribution rights only)
- Mortal Kombat
- Rick and Morty
- Scooby Doo
- Ocean’s 11
- WB Games (TT Games, Netherrealm, Rocksteady)
- The Wizard of Oz
Why was Warner Bros sold?
Warner Bros went up for sale after several parties (including Paramount) expressed interest.
After separating from the media business Discovery Global earlier this year, the company formally put itself up for sale in October – kicking off a bidding war between Paramount, Netflix and Comcast.
Weighing in on the sale, former Warner Bros CEO Jason Kilar wrote on X: ‘If I was tasked with doing so, I could not think of a more effective way to reduce competition in Hollywood than selling WBD to Netflix.’
What does the deal mean for Netflix subscribers?
As part of the deal, Netflix will get its hands on Warner Bros.’ entire catalogue, including Friends (which is set to leave the streaming service this month), The Big Bang Theory and Supernatural.
As such, Netflix’s streaming catalogue will increase with unparalleled access to everything it now owns.
The streaming service’s statement promised: ‘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.’
However, many have expressed concern for the merger, with Democratic Senator Elizabeth Warren calling it ‘an anti-monopoly nightmare.’
She added: ‘A Netflix-Warner Bros would create one massive media giant with control of close to half of the streaming market – threatening to force Americans into higher subscription prices and fewer choices over what and how they watch, while putting American workers at risk.’
The Writers’ Guild of America also registered their disapproval, insisting that it ‘must be blocked.’
The deal is expected to close by the third quarter of 2026, following the approval of regulators – which Netflix co-CEO Ted Sarandos is ‘highly confident’ it will receive.
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