Netflix moves to acquire Warner Bros in landmark $82.7B entertainment deal

Netflix’s acquisition of Warner Bros for $82.7 billion marks one of the largest entertainment mergers, giving the company control of franchises including Game of Thrones, Harry Potter, the DC Universe, The Sopranos, and The Big Bang Theory. The deal, priced at $27.75 per share, will close after WBD finalizes the Discovery Global spin off in Q3 2026. Netflix leadership said the combined libraries will expand global reach, enhance long term value, and strengthen industry competitiveness.