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Netflix to Acquire Warner Bros. Following the Separation of . . . HOLLYWOOD, Calif , Dec 5, 2025 -- Today, Netflix, Inc (the Company) and Warner Bros Discovery, Inc (WBD) announced they have entered into a definitive agreement under which Netflix will acquire Warner Bros , including its film and television studios, HBO Max and HBO The cash and stock transaction is valued at $27 75 per WBD share (subject to a collar as detailed below), with a total
How Netflix and Warner Bros Merger Will Affect You - TODAY How will the merger change what's on Netflix? Netflix and Warner Bros noted how the acquisition will affect the choices viewers have when it comes to what to watch, without getting into specifics