Netflix has officially announced its acquisition of Warner Bros. for $82.7 billion. They have entered into a definitive agreement under which Netflix will acquire the studio, including its film and TV divisions, HBO Max and HBO

First, Warner Bros. Discovery will spin off cable networks like CNN and TNT into a separate company by Q3 2026, with the deal closing in 12-18 months pending approvals.

Netflix plans to maintain Warner Bros. film releases through 2029 and integrate HBO Max content into its library.

The entertainment services promised better entertainment worldwide amid regulatory hurdles, stating:

“Together, we’ll define the next century of storytelling, creating an extraordinary entertainment offering for audiences everywhere.”