Netflix announced on Friday (5) the purchase of the TV and film studios and the streaming division of Warner Bros. Discovery for US$ 72 billion, according to Reuters. The deal ends a dispute that lasted weeks and places one of Hollywood’s most traditional groups back under the control of the company that revolutionized the streaming market.
Netflix’s offer — about US$ 28 per share — surpassed the Paramount Skydance proposal, which had offered nearly US$ 24 per share to acquire the entire company, including units that are to be separated into a new business. The day before, Warner Bros. Discovery shares closed at US$ 24.50, valuing the company at approximately US$ 61 billion.
The incorporation of globally appealing franchises, such as Game of Thrones and DC Comics. The Harry Potter deal represents a milestone for the industry and strengthens Netflix’s competitive advantage over rivals like Disney and Paramount. The platform’s co-CEO, Ted Sarandos, celebrated the deal, stating: “Together, we will be able to deliver even more of what the public loves and help define the next century of storytelling.”
Experts point out that Netflix seeks to secure long-term rights for high-impact productions and reduce its dependence on external studios, while diversifying its operations into segments like games. Nevertheless, the operation is expected to face strong scrutiny from antitrust authorities in the United States and Europe, as it places the world’s largest streaming service in control of a competitor with nearly 130 million subscribers and owner of HBO Max.
Paramount — led by David Ellison and with ties to the administration of US President Donald Trump — questioned the sale process in a letter sent this week, alleging preferential treatment to Netflix during the negotiations.
To alleviate concerns about market concentration, Netflix argued in discussions that a potential integration of its platform with HBO Max could result in lower prices for consumers, according to Reuters. The company also assured Warner Bros. Discovery that it will continue releasing studio productions in theaters, a measure aimed at dispelling fears that the operation could reduce the availability of films in exhibition halls.
The deal, structured in cash and stock, stipulates that each Warner Bros. Discovery shareholder will receive US$ 23.25 in cash and approximately US$ 4.50 in Netflix shares, valuing Warner shares at US$ 27.75 each. Including debt, the transaction totals US$ 82.7 billion. In pre-market trading, Netflix shares fell nearly 3%, while Paramount’s dropped 2.2%.
The completion of the purchase depends on the spin-off of the global channels unit, Discovery Global, which will be transformed into an independent company in the third quarter of 2026. Netflix estimates savings of between US$ 2 billion and US$ 3 billion annually starting from the third year after full integration of operations.
Source: brasil247.com