Netflix to buy Warner Bros. for $82.7 billion

Shortly after rumors of a deal between the two media giants broke, Netflix has announced it is buying Warner Bros., HBO and HBO Max for approximately $82.7 billion. If approved, the deal will take place after Warner Bros. has disentangled itself from both its legacy cable and Discovery assets as part of the already-announced de-merger. That's likely to take place in the third quarter of 2026, with this new tie-up taking place at some point after that.In a statement, Netflix said it expects to "maintain" Warner Bros. current operations, as well as its policy of theatrical releases for its films. But the deal may spell the end for HBO Max as its own product in the longer term, as the statement also says "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."Naturally, the deal will see Netflix become one of the biggest players in global media, combining its global rea