Netflix has finalized a $72 billion deal to acquire the film and streaming operations of Warner Bros Discovery, marking one of the largest mergers in Hollywood history.
The streaming giant reportedly outbid Comcast and Paramount–Skydance after a prolonged negotiation battle, according to reporting by the BBC.
With this acquisition, Netflix gains control of some of the world’s most valuable entertainment franchises, including Harry Potter, Game of Thrones, and the streaming service HBO Max.
The agreement, once approved by regulatory authorities, is expected to reshape the global entertainment industry, creating a new superpower with unmatched production capacity and streaming influence.
Netflix CEO Ted Sarandos said the merger would allow the company to “give audiences even more of what they love,” signaling broader ambitions to dominate both content creation and distribution.
Regulatory approval remains a key hurdle, as the scale of the merger is likely to raise antitrust questions in both the U.S. and European markets.
