Netflix has announced a landmark agreement to acquire Warner Bros. in a deal valued at $82.7 billion, marking one of the biggest mergers in entertainment history. The acquisition includes Warner Bros.’ film and TV studios, HBO, and its premium streaming offerings, positioning Netflix as the largest consolidated entertainment company in the world.

According to Netflix, the move represents a shared vision between both companies. By bringing Warner Bros.’ century-long legacy together with Netflix’s global streaming dominance, the company aims to “define the next century of storytelling” and deliver an unprecedented content offering to audiences everywhere.

The deal gives Netflix access to some of the most valuable IPs in Hollywood, including the Harry Potter universe, the DC Comics catalogue, and HBO’s award-winning slate of dramas. This not only expands Netflix’s library but also establishes its footprint in theatrical film production and global distribution on a scale the company has never held before.

Industry analysts say the agreement signals a major shift in Hollywood’s competitive landscape. Traditional studio boundaries continue to blur as streaming giants evolve into full-fledged media conglomerates. With this acquisition, Netflix now stands at the centre of both streaming and studio ecosystems, intensifying pressure on rivals such as Disney, Amazon, and Apple.

The merger is expected to be finalised following regulatory approval and the separation of Warner Bros. Discovery’s global networks division, which will be spun off as an independent company. If approved, the transaction is anticipated to close by Q3 2026, ushering in a new era for global entertainment.

For audiences, the acquisition promises a future where Netflix houses some of the world’s biggest franchises under one platform. For the industry, it marks a dramatic consolidation that could reshape Hollywood for decades.