Netflix Is Buying Warner Bros. and HBO in a Massive $80B Deal

Netflix has announced that it’s buying Warner Bros.’ studio and streaming business, including HBO and HBO Max, in a deal worth more than $80 billion. If everything goes through, Netflix will gain access to some of the most popular movies and TV shows ever made. It will be the biggest move in Netflix’s history.

Netflix’s biggest deal yet brings Warner Bros. and HBO together

The deal won’t be completed anytime soon. Warner Bros. Discovery first plans to split its business into two parts. Its Global Networks division, which includes CNN, Discovery Channel, and TNT Sports, will become a new public company called Discovery Global. This process is expected to finish in Q3 2026. After that, Netflix will acquire the remaining Streaming & Studios business.

This includes Warner Bros. Pictures, HBO, and HBO Max, along with major franchises such as Harry Potter, Game of Thrones, DC, and Friends. Netflix says it plans to keep Warner Bros. running as it does today, including releasing movies in theaters. HBO and HBO Max will also continue to operate as normal for now, though their future under Netflix is still unclear.

Netflix reportedly agreed to a large breakup fee in case the deal fails due to regulatory issues. The company also beat other major bidders such as Comcast and Paramount to secure the deal. Amazon and Apple were also rumored to be interested earlier. The acquisition is expected to face strong regulatory review in the US, with some lawmakers already raising concerns about competition and market control.

If the deal is approved, Netflix will no longer be just a streaming service. It will become the owner of one of the most legendary movie studios in the world, marking a huge shift in how the company operates going forward.