Netflix has reached a landmark agreement to acquire the film and streaming operations of Warner Bros Discovery in a deal valued at $72bn (£54bn), marking one of the biggest shake-ups in Hollywood history.
The streaming powerhouse reportedly beat out rival bidders including Comcast and Paramount Skydance after an extended and highly competitive bidding process. The acquisition would bring some of the entertainment industry’s most valuable franchises under Netflix’s control, including Harry Potter, Game of Thrones, and the HBO Max streaming platform.
If completed, the deal would significantly reshape the US media and film landscape, accelerating consolidation in an industry already undergoing rapid change as audiences move away from traditional television toward streaming services.
Industry analysts say the proposed takeover could face close scrutiny from competition regulators, given the combined scale of the two companies and the potential impact on consumers, content creators, and rival studios.
The agreement underscores Netflix’s ambition to strengthen its dominance in global entertainment, while raising broader questions about market power and the future structure of the streaming industry.
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