Netflix to Acquire Warner Bros Discovery in $72 Billion Deal, Set to Reshape Global Entertainment

Netflix has struck a landmark agreement to acquire Warner Bros Discovery’s television, film and streaming operations in a massive $72 billion deal, a move that would bring one of Hollywood’s most storied studios under the ownership of the world’s most influential streaming platform, Reuters reported.

If completed, this would be one of the largest entertainment acquisitions in history, reshaping the global media landscape and accelerating Netflix’s expansion from streaming giant to full-scale studio powerhouse.

Regulatory challenges ahead

Kim Forrest, Chief Investment Officer at Bokeh Capital Partners, noted that Netflix emerging as the winning bidder is particularly striking given its dominance in the streaming sector — the very segment central to the acquisition. However, she warned that the deal will undergo intense regulatory scrutiny in the US and internationally.

Antitrust authorities are expected to examine whether the merger could stifle competition in the entertainment market, especially as Netflix already commands a large share of global streaming traffic.

Will the acquisition boost Netflix’s stock?

Chris Beauchamp, Chief Market Analyst at IG Group, questioned whether the deal would provide the momentum needed to revive Netflix’s cooling share price.

He noted that consumer data shows significant overlap between Netflix and HBO Max audiences, which could limit short-term gains from merging the two services. Beauchamp added that regulatory uncertainty — including potential White House intervention — may weigh on investor sentiment at a time when Netflix’s stock, despite rising five-fold since 2022, is seeking a fresh catalyst.

If approved, the acquisition would give Netflix access to Warner Bros’ vast library, including franchises like Harry Potter, DC, The Lord of the Rings, and HBO’s critically acclaimed programming, further strengthening its competitive edge in the global content wars.