{"id":50320,"date":"2025-12-05T16:07:06","date_gmt":"2025-12-05T21:07:06","guid":{"rendered":"https:\/\/mjtsai.com\/blog\/?p=50320"},"modified":"2026-03-03T11:27:49","modified_gmt":"2026-03-03T16:27:49","slug":"netflix-buys-warner-bros","status":"publish","type":"post","link":"https:\/\/mjtsai.com\/blog\/2025\/12\/05\/netflix-buys-warner-bros\/","title":{"rendered":"Netflix Buys Warner Bros."},"content":{"rendered":"<p><a href=\"https:\/\/www.theverge.com\/news\/838781\/netflix-warner-bros-discover-bids-buyout\">Dominic Preston<\/a> (<a href=\"https:\/\/news.ycombinator.com\/item?id=46156645\">Hacker<\/a> <a href=\"https:\/\/news.ycombinator.com\/item?id=46160315\">News<\/a>, <a href=\"https:\/\/www.macrumors.com\/2025\/12\/05\/netflix-to-buy-warner-bros\/\">MacRumors<\/a>, <a href=\"https:\/\/entertainment.slashdot.org\/story\/25\/12\/05\/1728256\/netflix-to-buy-warner-bros-in-72-billion-cash-stock-deal\">Slashdot<\/a>):<\/p>\n<blockquote cite=\"https:\/\/www.theverge.com\/news\/838781\/netflix-warner-bros-discover-bids-buyout\"><p>Netflix has <a href=\"https:\/\/ir.netflix.net\/investor-news-and-events\/financial-releases\/press-release-details\/2025\/NETFLIX-TO-ACQUIRE-WARNER-BROS--FOLLOWING-THE-SEPARATION-OF-DISCOVERY-GLOBAL-FOR-A-TOTAL-ENTERPRISE-VALUE-OF-82-7-BILLION-Equity-Value-of-72-0-Billion\/default.aspx\">announced<\/a> that it&rsquo;s struck a deal to acquire Warner Bros. for $82.7 billion. The purchase will go through after Warner Bros.&rsquo; planned split from Discovery, now expected to take place in Q3 2026.<\/p><p>[&#8230;]<\/p><p>Netflix suggests it has no immediate plans for drastic change at Warner Bros., describing HBO and HBO Max as a &ldquo;compelling, complementary offering&rdquo; alongside its own streaming service, and saying it will maintain the studio&rsquo;s current operations, including theatrical releases for films.&rdquo;<\/p><\/blockquote>\n\n<p><a href=\"https:\/\/schwarztech.net\/snippets\/instead-of-becoming-hbo-why-does-netflix-the-largest-streaming-service-not-simply-eat-hbo-and-its-owner\">Eric Schwarz<\/a>:<\/p>\n<blockquote cite=\"https:\/\/schwarztech.net\/snippets\/instead-of-becoming-hbo-why-does-netflix-the-largest-streaming-service-not-simply-eat-hbo-and-its-owner\"><p>[Today&rsquo;s] news immediately made me think of Netflix Co-CEO Ted Sarandos&rsquo;s <a href=\"http:\/\/www.gq.com\/entertainment\/movies-and-tv\/201302\/netflix-founder-reed-hastings-house-of-cards-arrested-development?currentPage=1\"><em>GQ<\/em> interview<\/a> (<a href=\"https:\/\/web.archive.org\/web\/20130205025106\/http:\/\/www.gq.com\/entertainment\/movies-and-tv\/201302\/netflix-founder-reed-hastings-house-of-cards-arrested-development?currentPage=3\">Web Archive link<\/a>) back in 2013 when he was the Chief Content Officer:<\/p><blockquote><p>&ldquo;The goal&#8230;is to become HBO faster than HBO can become us.&rdquo;<\/p><\/blockquote><p>[&#8230;]<\/p><p>What&rsquo;s funny is that fifteen or twenty years ago, this merger wouldn&rsquo;t have been plausible, but if it had, the Netflix brand would have most likely gone away. At this point, the Netflix brand is strong enough that I could seem them simply building out sections of select legacy brands under the Netflix umbrella (not unlike what Disney+ currently has and Warner Bros. Discovery had done initially after that merger.)<\/p><\/blockquote>\n\n<p><a href=\"https:\/\/daringfireball.net\/linked\/2025\/12\/05\/netflix-buying-warner-bros\">John Gruber<\/a>:<\/p>\n<blockquote cite=\"https:\/\/daringfireball.net\/linked\/2025\/12\/05\/netflix-buying-warner-bros\">\n<p>I don&rsquo;t know if this deal makes sense for Netflix, but Netflix has earned my trust. Netflix is a product-first company. They care about the quality of their content, their software, their service, and their brand. If you care about the Warner\/HBO legacy, an acquisition by Netflix is a much, much better outcome than if David Ellison had bought it to merge with Paramount.<\/p>\n<\/blockquote>\n\n<p><a href=\"https:\/\/spyglass.org\/signal-streaming-time-is-a-flat-circle\/\">M.G. Siegler<\/a>:<\/p>\n<blockquote cite=\"https:\/\/spyglass.org\/signal-streaming-time-is-a-flat-circle\/\"><p>For now, I&rsquo;ll just tout <a href=\"https:\/\/spyglass.org\/10-big-predictions-for-2025\/\">my predictions from last year<\/a>, both that WBD would be acquired, but also that <a href=\"https:\/\/spyglass.org\/netflix-movie-theaters\/\">Netflix would eventually backtrack on their theatrical release stance<\/a>. Book look good right now.<\/p><\/blockquote>\n\n<p><a href=\"https:\/\/micro.blog\/AdamChandler\/79394685\">Adam Chandler<\/a>:<\/p>\n<blockquote cite=\"https:\/\/micro.blog\/AdamChandler\/79394685\"><p>Infinite Timelines, Netflix just becomes Comcast in 20 years and charges $250 a month for hundreds of &lsquo;channels&rsquo; that still have advertisements but nothing good to watch.<\/p><\/blockquote>\n\n<p>Previously:<\/p>\n<ul>\n<li><a href=\"https:\/\/mjtsai.com\/blog\/2025\/05\/02\/youtube-at-20\/\">YouTube at 20<\/a><\/li>\n<li><a href=\"https:\/\/mjtsai.com\/blog\/2025\/03\/26\/apple-tv-losing-1-billion-per-year\/\">Apple TV+ Losing $1 Billion Per Year<\/a><\/li>\n<li><a href=\"https:\/\/mjtsai.com\/blog\/2023\/04\/26\/netflix-ads-password-sharing-and-dvds\/\">Netflix Ads, Password Sharing, and DVDs<\/a><\/li>\n<li><a href=\"https:\/\/mjtsai.com\/blog\/2023\/03\/02\/arrested-development-leaving-netflix-soon\/\">Arrested Development Leaving Netflix Soon<\/a><\/li>\n<li><a href=\"https:\/\/mjtsai.com\/blog\/2019\/08\/02\/netflix-vs-blockbuster-total-access\/\">Netflix vs. Blockbuster Total Access<\/a><\/li>\n<li><a href=\"https:\/\/mjtsai.com\/blog\/2019\/04\/16\/all-the-streaming-video\/\">All the Streaming Video<\/a><\/li>\n<li><a href=\"https:\/\/mjtsai.com\/blog\/2022\/02\/21\/an-unsolicited-streaming-app-spec\/\">An Unsolicited Streaming App Spec<\/a><\/li>\n<\/ul>\n\n<p id=\"netflix-buys-warner-bros-update-2025-12-10\">Update (<a href=\"#netflix-buys-warner-bros-update-2025-12-10\">2025-12-10<\/a>): <a href=\"https:\/\/mastodon.social\/@rosyna\/115669647911530898\">Rosyna Keller<\/a>:<\/p>\n<blockquote cite=\"https:\/\/mastodon.social\/@rosyna\/115669647911530898\">\n<p>What will this mean for the infinite auto-playback HBO Max currently offers when playing back a serious?<\/p>\n<p>Will Netflix also remove the Apple TV app integration with HBO Max?<\/p>\n<\/blockquote>\n\n<p>See also: <a href=\"https:\/\/www.hollywoodreporter.com\/business\/business-news\/paramount-letter-netflix-comcast-warner-bros-1236442793\/\">Erik Hayden<\/a>, <a href=\"https:\/\/www.cnn.com\/2025\/12\/08\/business\/paramount-hostile-takeover-bid-wbd\">David Goldman<\/a>, <a href=\"https:\/\/stratechery.com\/2025\/netflix-and-the-hollywood-end-game\/\">Ben Thompson<\/a>, <a href=\"https:\/\/spyglass.org\/netflix-warner-bros-hollywood-concerns\/\">M.G. Siegler<\/a>.<\/p>\n\n<p id=\"netflix-buys-warner-bros-update-2026-03-03\">Update (<a href=\"#netflix-buys-warner-bros-update-2026-03-03\">2026-03-03<\/a>): <a href=\"https:\/\/www.macrumors.com\/2026\/02\/27\/netflix-withdraws-warner-bros-deal\/\">Tim Hardwick<\/a> (<a href=\"https:\/\/news.ycombinator.com\/item?id=47173583\">Hacker News<\/a>):<\/p>\n<blockquote cite=\"https:\/\/www.macrumors.com\/2026\/02\/27\/netflix-withdraws-warner-bros-deal\/\">\n<p>Netflix has dropped out of the takeover battle for Warner Bros. Discovery, putting Paramount Skydance on course to win the whole WBD business.<\/p>\n<p>[&#8230;]<\/p>\n<p>But after Paramount submitted a final offer, valuing WBD at $111bn including debt, Netflix declined to match it.<\/p>\n<\/blockquote>\n\n<p><a href=\"https:\/\/daringfireball.net\/linked\/2026\/02\/26\/netflix-backs-out-of-warner-bros-acquisition\">John Gruber<\/a>:<\/p>\n<blockquote cite=\"https:\/\/daringfireball.net\/linked\/2026\/02\/26\/netflix-backs-out-of-warner-bros-acquisition\">\n<p><a href=\"https:\/\/finance.yahoo.com\/quote\/NFLX\/\">Netflix&rsquo;s stock<\/a> is <em>up<\/em> <a href=\"https:\/\/daringfireball.net\/misc\/2026\/02\/nflx-after-hours.png\">9 percent<\/a> in after-hours trading.<\/p>\n<\/blockquote>","protected":false},"excerpt":{"rendered":"<p>Dominic Preston (Hacker News, MacRumors, Slashdot): Netflix has announced that it&rsquo;s struck a deal to acquire Warner Bros. for $82.7 billion. The purchase will go through after Warner Bros.&rsquo; planned split from Discovery, now expected to take place in Q3 2026.[&#8230;]Netflix suggests it has no immediate plans for drastic change at Warner Bros., describing HBO [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"apple_news_api_created_at":"2025-12-05T21:07:10Z","apple_news_api_id":"01afa0d6-2c11-4255-9cfa-14a9475e5313","apple_news_api_modified_at":"2026-03-03T16:27:56Z","apple_news_api_revision":"AAAAAAAAAAAAAAAAAAAAAg==","apple_news_api_share_url":"https:\/\/apple.news\/AAa-g1iwRQlWc-hSpR15TEw","apple_news_coverimage":0,"apple_news_coverimage_caption":"","apple_news_is_hidden":false,"apple_news_is_paid":false,"apple_news_is_preview":false,"apple_news_is_sponsored":false,"apple_news_maturity_rating":"","apple_news_metadata":"\"\"","apple_news_pullquote":"","apple_news_pullquote_position":"","apple_news_slug":"","apple_news_sections":"\"\"","apple_news_suppress_video_url":false,"apple_news_use_image_component":false,"footnotes":""},"categories":[2],"tags":[66,2085,101,2175,227,97,96],"class_list":["post-50320","post","type-post","status-publish","format-standard","hentry","category-technology","tag-acquisition","tag-antitrust","tag-business","tag-hbo-max","tag-netflix","tag-video","tag-web"],"apple_news_notices":[],"_links":{"self":[{"href":"https:\/\/mjtsai.com\/blog\/wp-json\/wp\/v2\/posts\/50320","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mjtsai.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mjtsai.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mjtsai.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/mjtsai.com\/blog\/wp-json\/wp\/v2\/comments?post=50320"}],"version-history":[{"count":4,"href":"https:\/\/mjtsai.com\/blog\/wp-json\/wp\/v2\/posts\/50320\/revisions"}],"predecessor-version":[{"id":51125,"href":"https:\/\/mjtsai.com\/blog\/wp-json\/wp\/v2\/posts\/50320\/revisions\/51125"}],"wp:attachment":[{"href":"https:\/\/mjtsai.com\/blog\/wp-json\/wp\/v2\/media?parent=50320"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mjtsai.com\/blog\/wp-json\/wp\/v2\/categories?post=50320"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mjtsai.com\/blog\/wp-json\/wp\/v2\/tags?post=50320"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}