In one of the most significant deals ever made in Hollywood, Netflix will acquire Warner Bros. in an $82.7 billion deal announced Friday by the two companies.
Netflix, Inc. and Warner Bros. Discovery, Inc. made the joint announcement that they have entered into a definitive agreement under which Netflix will acquire Warner Bros., including its film and television studios, HBO Max and HBO, in a press release published early Friday morning.
The move will make Netflix, which is already the world’s biggest and most dominant streaming service, a Hollywood behemoth. The deal would allow Netflix to add the Batman, Harry Potter and HBO Max to its already sizable streaming collection.
“Our mission has always been to entertain the world,” said Ted Sarandos, co-CEO of Netflix. “By combining Warner Bros. incredible library of shows and movies from timeless classics like Casablanca and Citizen Kane to modern favorites like Harry Potter and Friends with our culture-defining titles like Stranger Things, KPop Demon Hunters and Squid Game, we’ll be able to do that even better. Together, we can give audiences more of what they love and help define the next century of storytelling.”
When completed the deal will make Netflix a Hollywood juggernaut bigger than the Walt Disney Company.
Prices for HBO Max will undoubtedly be higher. What I would like to see is HBO getting professional boxing back. It’s been missed.