Netflix vs. Paramount’s Bids To Buy Warner Bros.
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An announced merger of Warner Bros Discovery and Netflix could mean huge changes for subscribers to HBO Max and Netflix in the coming months.
1hon MSN
Netflix to acquire Warner Bros. for $82.7 billion, signaling major upheaval in global film market
Netflix has completed one of the largest acquisitions in the streaming market to date. Netflix announced on Dec. 5 that it would acquire Warner Bros. Discovery’s (WBD) studio and streaming division for $82.
Ted Sarandos calls it a “done deal,” though strictly speaking, that isn’t true. There will be a lot of business decisions left to be made, and the deal will require regulatory approval from the U.S. government to be sure there are no antitrust concerns. It's not unlike what Paramount itself needed when it merged with Skydance earlier this year.
If Netflix can complete its $82.7 billion deal to acquire Warner Bros. Discovery, it will be a lot bigger but not necessarily a lot better for consumers — or for the streaming landscape the
Mike Cavanagh said Monday that the company "did not expect that we had a high likelihood of prevailing" in its Warner Bros. bid, but wanted to try.