- Netflix agrees deals to acquire Warner Bros. Discovery for $81.7 billion
- The deal could be a huge shake-up for movies, TV, and streaming
- The announcement hints that HBO Max titles will be available to Netflix subscribers
One of the biggest entertainment industry changes in decades looks set to happen, because Netflix and Warner Bros. Discovery have officially announced a deal for Netflix to acquire WBD for $82.7 billion.
If the deal goes through with intervention from the US Government, it would give Netflix access to the vast library of Warner Bros. Discovery content, including the Harry Potter and DC Comics franchises. HBO Max and all of the HBO shows are included in the package.
This is a massive consolidation deal for the TV and movie industry, and will give Netflix control of one of the biggest film studios in the world, as well as a stack of extra streaming content. Given the size of the companies, regulatory scrutiny is inevitable, but it sounds as though Netflix is confident of overcoming those hurdles.
Netflix CEO Ted Sarandos says “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. Together, we can give audiences more of what they love and help define the next century of storytelling.”
WBD CEO David Zaslav says “For more than a century, Warner Bros. has thrilled audiences, captured the world’s attention, and shaped our culture. By coming together with Netflix, we will ensure people everywhere will continue to enjoy the world’s most resonant stories for generations to come.”
What will happen to your streaming packages?
There’s still a way to go before this deal concludes, so you’re not going to wake up tomorrow to find CNN, Succession and Superman available for streaming through your Netflix subscription – but eventually it will mean that Netflix has the rights to everything owned and coming soon from Warner Bros. Discovery.
It seems clear that the plan for HBO Max’s library to be available to Netflix members. “By adding the deep film and TV libraries and HBO and HBO Max programming, Netflix members will have even more high-quality titles from which to choose,” the official press release explains, which seems clear-cut.
There has been fear that Netflix’s aversion to theatrical releases of its movies will be a huge problem if it acquires one of the biggest movie studios, but the release claims that “Netflix expects to maintain Warner Bros.’ current operations and build on its strengths, including theatrical releases for films.”
Other bidders, including Comcast and Paramount, had been circling – and might have led to a very different end result in terms of the resulting cable and streaming packages – but Netflix has won out, and it’s going to have a huge impact on the streaming world, one way or another.
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