WORLD (Enmaeya News) - December 5, 2025
Netflix is in exclusive talks to buy Warner Bros. Discovery’s (WBD) movie studios and the HBO Max streaming service.
The deal, led by Netflix co-CEOs Ted Sarandos and Greg Peters, could transform the entertainment industry, affecting movies, TV shows, and streaming services.
Netflix reportedly topped competing offers from Paramount and Comcast. Sources say Netflix offered $28 per share, while Paramount offered $27.
Paramount aimed to buy the whole company, not just the studios and streaming business. Netflix also included a $5 billion fee if regulators block the deal.
Experts say the acquisition could affect how movies are released in theaters and how shows are made. Some in Hollywood worry Netflix may release fewer WB films in theaters, which could hurt traditional cinema and revenue from streaming deals.
Regulators in the U.S. and Europe are expected to review the deal closely. The Department of Justice may challenge it, and European authorities could raise concerns. Netflix could argue that the broader video market, including YouTube, prevents anti-competitive problems.
The deal does not include WBD’s TV channels like CNN, TNT, TBS, HGTV, and Food Network, which will remain separate.
If finalized, the deal would combine Netflix’s streaming power with Warner Bros.’ historic film and TV content, marking a major shift in the way movies and shows are produced and delivered worldwide.
