Netflix has agreed an $83 billion (€71 billion) takeover of Warner Bros Discovery, in a deal that hands it one of Hollywood’s most celebrated studios and creates a global entertainment powerhouse. Under the takeover, WBD will continue with the planned spin-off of its cable television networks, including CNN, Discovery and Turner, into a separate company before the studios and streaming businesses are sold to Netflix. In an auction that kicked off in October and was overseen by WBD boss David Zaslav, Netflix saw off competition for the businesses from Paramount and Comcast. Netflix has promised to maintain Warner Bros’ theatrical releases for films. The combination of Netflix and WBD will prove a test for regulators in the US and Europe, where both companies have extensive operations.

Source: The Irish Times December 05, 2025 17:26 UTC