@davejorgenson: Netflix won the bid to buy Warner Bros. television and film properties. Netflix announced plans on Friday to acquire Warner Bros. Discovery’s studio and streaming business, in a deal that will send shock waves through Hollywood and the broader media landscape. The cash-and-stock deal values the business at $82.7 billion, including debt. The acquisition is expected to close after Warner Bros. Discovery carves out its cable unit, which the companies expected be completed by the third quarter of 2026. That means there will be a separate public company controlling channels like CNN, TNT and Discovery. Netflix is already the world’s largest paid streaming service, with more than 300 million subscribers. Bulking up with Warner Bros. Discovery assets would create a colossus with greater leverage over theater owners and entertainment-industry unions. It could force smaller companies to merge as they scramble to compete. The acquisition would also complete the conquest of Hollywood by tech insurgents. Instead of acquiring studios, tech companies have mostly grown under their own steam in Hollywood. In 2022, Amazon closed its $8.5 billion acquisition of Metro-Goldwyn-Mayer, home to James Bond and Rocky franchises. Caption from article by Brooks Barnes, Lauren Hirsch and Nicole Sperling, NY Times.

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Friday 05 December 2025 23:34:06 GMT