Netflix to buy Warner Bros. studio

Netflix has reached an agreement to acquire the studio and streaming operations of Warner Bros. Discovery — the powerhouse behind franchises like Harry Potter, DC films and HBO Max — in a deal valued at $72 billion. If regulators approve, the takeover would unite two of the world’s largest streaming platforms and merge Warner’s century-old film and TV studios with Netflix’s massive global entertainment operation.

The combination could trigger major antitrust concerns, particularly over its impact on movie production, theatrical releases and competition in the streaming market. Analysts say the merger would position Netflix as the undisputed leader in global streaming, especially if HBO Max content is folded into a single platform. Some experts believe subscribers may benefit from bundled pricing, though others warn that consolidation could reduce content diversity and lead to job cuts industrywide.

Netflix has pledged to honour Warner’s existing theatrical commitments and to continue releasing major films in cinemas — a significant shift for a company traditionally focused on online distribution. Industry groups, including Cinema United and the Writers Guild of America, urged regulators to block the deal, citing fears of theater closures, worker layoffs and diminished creative opportunities.

The acquisition follows months of competing bids, with Paramount and Comcast also showing strong interest. Despite Warner’s approval of Netflix’s offer, analysts caution that political dynamics and regulatory scrutiny could greatly influence whether the merger ultimately goes through.