Netflix and Warner Bros. Discovery announced on Friday an agreement under which Netflix will acquire Warner Bros., including its film and television studios, as well as HBO Max and HBO.
This will see beloved franchises, shows, and movies such as The Big Bang Theory, The Sopranos, Game of Thrones, The Wizard of Oz, and the DC Universe join Netflix’s extensive portfolio, including Wednesday, Money Heist, Bridgerton, Adolescence, and Extraction, creating an extraordinary entertainment offering for audiences worldwide.
“Our mission has always been to entertain the world,” said Ted Sarandos, co-CEO of Netflix, in a statement. “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.”
Neither Netflix nor Warner Bros. owns any broadcast stations, so the deal would not require approval from the Federal Communications Commission. However, it may still require approval by the Justice Department’s antitrust division.
“Today’s announcement combines two of the greatest storytelling companies in the world to bring to even more people the entertainment they love to watch the most,” said David Zaslav, President and CEO of Warner Bros. Discovery. “For more than a century, Warner Bros. has thrilled audiences, captured the world’s attention, and shaped our culture. By coming together with Netflix, we will ensure people everywhere will continue to enjoy the world’s most resonant stories for generations to come.”
Netflix, which has more than 300 million subscribers, is the No. 1 streaming service. Warner’s HBO Max is ranked slightly lower. The deal would not include cable networks owned by Warner Bros. Discovery, such as CNN and TNT.
