Netflix has finalized a major acquisition deal with Warner Bros. Discovery, securing key assets after a competitive bidding race that also involved Paramount, Skydance, and Comcast.
The agreement, valued at $27.75 per WBD share, places the company’s equity at roughly $72 billion and its total enterprise value near $82.7 billion. Under the deal, Netflix will take ownership of Warner Bros.’ film studio and HBO Max, while WBD moves forward with separating Discovery Global, home to major networks including TNT and CNN.