
Transforming the Global Media Landscape: Netflix’s Warner Bros. Acquisition
Netflix’s $82.7 billion acquisition of Warner Bros. Discovery’s (WBD) studios, HBO, and HBO Max—announced on December 5, 2025—marks a pivotal moment in the evolution of global entertainment. This cash-and-stock deal, valued at $27.75 per WBD share, follows WBD’s planned spin-off of its cable networks (e.g., CNN, Discovery Channel) into a


















