Warner Bros. Discovery and Netflix Said to Be in Exclusive Talks
Netflix would acquire Warner television and film studios as well as HBO Max in a deal that would bulk up the world’s biggest paid streaming service.
Netflix announced plans on Friday to acquire Warner Bros. Discovery’s studio and streaming business, in a deal that will send shock waves through Hollywood and the broader media landscape.
The cash-and-stock deal values the business at $82.7 billion, including debt. The acquisition is expected to close after Warner Bros. Discovery carves out its cable unit, which the companies expected be completed by the third quarter of 2026. That means there will be a separate public company controlling channels like CNN, TNT and Discovery.
Related Knowledge Center: State of the business model
The traditional journalism business model has long since collapsed, and news organizations have shrunk or disappeared entirely. While a number of promising experiments are under way, the public has not shown a willingness to buy what news organizations are selling.