| Key Aspect | Details |
|---|---|
| Event | Netflix acquires Warner Bros Discovery's TV and film studios and streaming assets |
| Deal Value | $72 billion |
| Date Announced | December 5, 2025 |
| Bidding War Outcome | Netflix's $28/share offer beats Paramount's $24/share bid |
| Major Franchises Acquired | Harry Potter, Game of Thrones, DC Comics |
| Streaming Service Gained | HBO Max (130 million+ subscribers) |
| Strategic Goals | Secure permanent rights to popular IP, reduce dependency on external studios |
| Theatrical Releases | Netflix plans to preserve theatrical releases of Warner Bros films |
| Antitrust Scrutiny | Expected in U.S. and Europe due to potential market dominance concerns |
| Proposed Mitigations | Bundled streaming services, continued theatrical releases, content variety |
| Acquired Assets | Vast studio infrastructure in Burbank and worldwide, Adult Swim, Cartoon Network, CNN Films |
| Diversification | Bolsters Netflix's push into gaming, merchandise, and live events |
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