In an announcement that's sending shockwaves throughout the entertainment world, streaming giant Netflix has announced its intentions to buy Warner Bros. - for a whopping $72 billion (or $82.7 billion as a "total enterprise value").
Going off Netflix's statement on this, the move doesn't mention Warner Bros.' gaming studios - although the finer detail on this deal is still a little hazy at the minute, especially because it's not completed yet. All we know for sure is that Netflix has "entered into a definitive agreement under which Netflix will acquire Warner Bros., including its film and television studios, HBO Max and HBO."
"This acquisition brings together two pioneering entertainment businesses, combining Netflix’s innovation, global reach and best-in-class streaming service with Warner Bros.’ century-long legacy of world-class storytelling. Beloved franchises, shows and movies such as The Big Bang Theory, The Sopranos, Game of Thrones, The Wizard of Oz and the DC Universe will join Netflix’s extensive portfolio including Wednesday, Money Heist, Bridgerton, Adolescence and Extraction, creating an extraordinary entertainment offering for audiences worldwide."
Of course, the bit that's standing out to us right now is the sheer size and scope of this acquisition. Throughout 2022 and 2023, Microsoft fought tooth and nail to acquire Activision Blizzard at a cost of roughly $70 billion - and we all know how that went down within the realm of gaming. We suppose we'll have to see how things go for Netflix, and how hard the company has to fight to get this deal done.
We'll also be keeping our eye on any potential news regarding the Warner Bros. gaming division, but as things stand, this deal seems to focus on film and TV streaming - which makes sense given the nature of Netflix's current business. In terms of timing, the two companies believe that "the transaction is expected to close in 12-18 months".