Netflix + Warner Bros: the merger that rewrites the future of entertainment

A deal worth over 82 billion dollars is reshaping the future of entertainment: HBO, the Warner studios, and a century of history now fall under the Netflix umbrella. The world of streaming (and Hollywood) is changing its face…

Netflix and Warner Bros. Discovery have made official what, in recent hours, had been keeping the streaming world on edge: a colossal agreement that will lead Netflix to acquire Warner Bros., including the historic film and television studios, HBO Max, and HBO.

The deal, valued at 27.75 dollars per WBD share and with a total enterprise value of about 82.7 billion dollars, represents one of the biggest moves ever in the entertainment industry. The closing is expected after the already announced spin-off of the Global Networks division, planned for the third quarter of 2026. According to the terms of the agreement, WBD shareholders will receive 23.25 dollars in cash and 4.501 dollars in Netflix

shares for each share they own.

Greg Peters, co-CEO of Netflix, celebrates: “This acquisition will accelerate our growth for decades to come. We will bring the worlds created by Warner Bros. to an even broader audience.” Equally enthusiastic is David Zaslav, CEO of Warner Bros. Discovery: “Uniting two giants of storytelling means ensuring that our stories continue to inspire the world for generations.”

Andrea Pelucchi