Netflix Will Acquire Warner Bros. In $83 Billion Deal—Discovery Will Be Split Off [Forbes]
Warner Bros. Discovery, Inc. - Series A (WBD)
Company Research
Source: Forbes
Max—for $82.7 billion, in move that follows a weeks-long bidding war in which the streaming giant beat out Paramount and Comcast. In a press statement the company said the cash and stock deal is valued at $27.75 per Warner Bros. Discovery share and it will close after the media giant's TV network business is spun off into a separate public company, Discovery Global. The deal is subject to regulatory approvals and is expected to be completed in the third quarter of 2026. If it goes through, each WBD shareholder will receive $23.25 in cash per share and $4.501 worth of shares of Netflix's stock. According to Deadline and CNN , Paramount Skydance had offered $27 per share for the entire Warner Bros. Discovery business, including its cable channels like CNN and TNT. Comcast also made a bid only for Warner Bros. Discovery's studio and streaming businesses. Bloomberg previously reported that Netflix is offering Warner Bros. Discovery a $5 billion breakup fee if regulators don't
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WBD
News
- What does the Netflix-WBD deal mean to the future of streaming? [Los Angeles Times (CA)]Los Angeles Times
- Hollywood unions alarmed by Netflix's $72 billion Warner Bros deal [Yahoo! Finance Canada]Yahoo! Finance Canada
- Old Hollywood meets new: Netflix agrees to buy Warner Bros. and HBO Max [MSNBC.com]MSNBC.com
- Netflix investors don't seem to like its blockbuster deal with Warner Bros. Discovery [Yahoo! Finance]Yahoo! Finance
- S&P/TSX composite closes the week lower, while U.S. stock markets rise [Investment Executive - News]Investment Executive - News
WBD
Earnings
- 11/6/25 - Miss
WBD
Sec Filings
- 12/5/25 - Form 425
- 12/5/25 - Form 425
- 12/5/25 - Form 8-K
- WBD's page on the SEC website