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LIVEUpdated Today, Dec 5, 2025, 4:26 PM UTC
Netflix is buying Warner Bros Discovery: All of the latest updates
by Verge Staff
After a bidding war that reportedly also involved Paramount, Comcast, Amazon, and Apple, on December 5th, Netflix struck a deal to buy Warner Bros. for $82.7 billion, buying the studio, HBO / HBO Max, Warner Games, and more.
There are already questions and comments coming from politicians and regulators about the proposed acquisition, and you can follow along below for all of the latest updates as they come in.
Today, 52 minutes ago
Netflix’s Warner Bros. deal includes Warner Bros. Games.
TweakTown says it has “received confirmation that Warner Bros.’ games studios, IP, and content will indeed be part of the transaction.”
Netflix to acquire Warner Bros for $82 billion, includes WB Games studios and IP
[TweakTown]
Today, 1:16 PM UTC
Netflix is buying Warner Bros. for $83 billion
Image: The VergeNetflix has announced that it’s struck a deal to acquire Warner Bros. for $82.7 billion. The purchase will go through after Warner Bros.’ planned split from Discovery, now expected to take place in Q3 2026. It will see the streamer acquire the Warner studio, both HBO and HBO Max, and access to IP including Harry Potter, Game of Thrones, and DC Comics.
“Our mission has always been to entertain the world,” said Ted Sarandos, co-CEO of Netflix. “By combining Warner Bros.’ incredible library of shows and movies — from timeless classics like Casablanca and Citizen Kane to modern favorites like Harry Potter and Friends — with our culture-defining titles like Stranger Things, KPop Demon Hunters and Squid Game, we’ll be able to do that even better.”
Oct 31
Netflix is reportedly looking into a bid for Warner Bros. Discovery
Illustration by Alex Castro / The VergeYet another rumor suggests that Netflix is interested in buying Warner Bros. Discovery’s studio and streaming businesses. On Friday, Reuters reported that Netflix is “actively exploring” a bid for the company and has hired a bank to look into a potential offer.
Sources tell Reuters that Netflix now has access to Warner Bros. Discovery’s “data room,” which the outlet says “contains the financial details needed to make a bid.” Last week, Bloomberg reported that Netflix, Amazon, and Apple are all considering purchasing parts or all of the company. Comcast co-CEO Mike Cavanagh has also left the door open to a potential deal.
Oct 28
Warner Bros. mergers never work, but they’re trying again anyway
Image: The VergeWhen Warner Bros. Discovery announced that it was open to the possibility of a sale, the entertainment giant was careful to mention that it has already received multiple unsolicited offers “for both the entire company and Warner Bros.” We knew about WBD’s plan to split back into two corporate entities, and that the company had just refused a lowball acquisition proposal from David Ellison’s newly merged Paramount Skydance. But what was new and very telling was CEO David Zaslav’s humblebragging about WBD’s portfolio “receiving increased recognition by others in the market.”
As WBD’s head, who has somehow managed to keep his position during a tenure marked by multiple rounds of layoffs and a wildly misguided attempt at killing the HBO brand in favor of “Max,” Zaslav has a vested interest in spinning a potential acquisition as positively as he can. But when you look back at Warner Bros.‘ long history of mergers and acquisitions, it is easy to see how poorly those deals have always shaken out for everyone except the involved companies’ executive leadership. This flavor of corporate consolidation in pursuit of endless growth and increasing shareholder value has invariably led to devastating job cuts and price hikes for consumers — all while chipping away at the competitiveness that encourages companies to offer quality products.
Oct 23
Netflix, Amazon, and Apple are reportedly interested in buying Warner Bros.
Image: The VergeThree of the rumored potential buyers for entertainment titan Warner Bros. Discovery are tech companies. Netflix, Amazon, and Apple are all interested in buying Warner Bros. Discovery as a whole or acquiring pieces of the company, like its content libraries and production assets, according to Bloomberg.
Earlier this week, Warner Bros. Discovery announced it was launching a “review of strategic alternatives to maximize shareholder value, in light of unsolicited interest the Company has received from multiple parties for both the entire company and Warner Bros.” According to the report, after receiving the above inquiries, as well as others from Paramount and Comcast, it’s readying nondisclosure agreements for the prospective buyers ahead of sharing financial data with them.
- Oct 21
Warner Bros. Discovery is ready for a sale
Image: The VergeWarner Bros. Discovery has finally said out loud what has been obvious for months now: it wants to be acquired by another entertainment megacorporation.
Today, WBD announced that it “has initiated a review of strategic alternatives to maximize shareholder value” — a roundabout way of saying that the company is open to the possibility of a massive acquisition deal with the right buyer. The news comes just months after WBD’s decision to split Warner Bros. and Discovery Global into two separate corporate entities tasked with running the company’s streaming and cable businesses
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Source: https://www.theverge.com/news/839007/netflix-warner-acquisition
