By: Serena Edwards
On Dec. 5, Netflix made an $83 billion deal to acquire the Warner Bros. franchise after a bidding war with Paramount and Comcast. This transaction has also given Netflix the HBO franchise, including HBO Channel and its streaming service, HBO Max.
This agreement came after Warner Bros Discovery (WBD) and Warner Bros split in June of this year. In the divorce of the Warner Bros companies, WBD became its own entity, keeping its Discovery channels and separating into two sections: Streaming and Studios, and Global Networks.
The press release from WBD outlines the two sections.
“The Streaming & Studios company will consist of Warner Bros. Television, Warner Bros. Motion Picture Group, DC Studios, HBO, and HBO Max, as well as their legendary film and television libraries,” stated WBD.
The press release continued by stating that the “Global Entertainment” sector will consist more of entertainment television, which includes news and sports.
“Global Networks will include premier entertainment, sports, and news television brands around the world, including CNN, TNT Sports in the U.S., and Discovery, top free-to-air channels across Europe, and digital products such as the profitable Discovery+ streaming service and Bleacher Report (B/R).”
“This acquisition will improve our offering and accelerate our business for decades to come,” said Greg Peters, co-CEO of Netflix, in a press release. “Warner Bros. has helped define entertainment for more than a century and continues to do so with phenomenal creative executives and production capabilities. With our global reach and proven business model, we can introduce a broader audience to the worlds they create—giving our members more options, attracting more fans to our best-in-class streaming service, strengthening the entire entertainment industry, and creating more value for shareholders.”
Through this agreement, Netflix will be able to expand where it produces its shows now that it has gained access to Warner Bros. production sets.
“This acquisition will enhance Netflix’s studio capabilities, allowing the Company to significantly expand U.S. production capacity and continue to grow investment in original content over the long term, which will create jobs and strengthen the entertainment industry,” stated the press release.
Though it has not been fully stated what this will look like for Netflix or Warner Bros. as far as aesthetics, the separation of Warner Bros and WBD will officially occur during the third quarter of 2026.