Netflix has officially announced its intention to acquire Warner Bros. in a deal worth $82.7 billion. After its approval by regulators, the world's largest streaming service will gain access to one of the richest libraries — including the DC Comics, "Harry Potter", "The Lord of the Rings" franchises, and HBO studio with its original series.
Analysts call the deal a historic step that could finally cement Netflix's leadership in the market. According to Wall Street experts, the merger will allow the company to significantly expand its content line and strengthen its position in the confrontation with Amazon and Disney.
Bank of America believes that the merger "kills three birds with one stone": it strengthens Netflix's position, relieves Warner Bros. Discovery of its debt burden, and casts doubt on the competitiveness of players such as Paramount and NBCUniversal.
According to Morgan Stanley, the strategic benefit of the deal is obvious: Netflix gets not only dozens of iconic brands, but also access to the production facilities of Warner Bros., which is already more than a hundred years old. This is a step that can change the entire architecture of the modern media market.
The deal will be completed after WBD's global network division, Discovery Global, is spun off into a separate public company. This step is expected in the third quarter of 2026, after which the parties will be able to close the agreement.
As with other major acquisitions, the main obstacle may be antitrust reviews. Netflix has provided for compensation of $5 billion in case the deal is not approved.