Netflix has made headlines with a significant agreement to acquire Warner Bros. Discovery, the parent company of major networks such as HBO and CNN.
The ownership details regarding Netflix’s future networks are somewhat intricate.
Warner Bros. was put on the market recently, and there were conversations about Amazon being a potential buyer.
It seems Netflix has come out on top, striking a cash-and-stock deal valued at $27.75 per share, translating to roughly $82.7 billion, with a post-debt equity worth around $72 billion. The transaction is anticipated to finalize by the third quarter of 2026, which will facilitate the separation process for WBD and ultimately influence the channels under Netflix’s management.
Corporate Split
The summer of 2026 will mark the effect of the split, as WBD plans to separate into two distinct entities: WBD Global Networks and WBD Streaming & Studios. Following this, Netflix will take charge of the Streaming and Studios sector.
This acquisition will allow Netflix to gain control over Warner Bros. Movies, TV, Games, HBO, and the HBO Max streaming service, as well as TNT Sports internationally and the New Line Cinema studio.
Additionally, Netflix will also acquire rights to iconic shows like “Friends,” “Game of Thrones,” “The Sopranos,” and “The Big Bang Theory,” along with the Harry Potter films.
CNN’s Future
Questions arose regarding the future of CNN should WBD be acquired, but CNN will remain part of WBD Global Networks and not integrate into Netflix.
Other networks, including HGTV, Discovery, TBS, Cartoon Network, and various sports rights such as NHL and NCAA, will continue to operate under their current structure.
Executives Speak Out
Ted Sarandos, Netflix’s co-CEO, emphasized the company’s mission to entertain globally. He remarked that the blend of Warner Bros. resources and Netflix’s library would offer audiences more of what they cherish, thereby shaping storytelling for future generations.
His co-CEO Greg Peters noted that the merger would enhance Netflix’s growth, asserting that the platform’s international reach would expose the worlds created by Warner Bros. to a broader audience while adding more selection for members.
David Zaslav, CEO of Warner Bros. Discovery, stated that this sale would help ensure that notable stories continue to resonate with viewers for years to come.
