Netflix stunned the entertainment world on Thursday, announcing a massive $72-billion-US acquisition of Warner Bros., a move that will bring HBO, HBO Max, and one of the most storied film and television libraries in history under the Netflix umbrella.
The landmark deal merges Netflix’s global streaming dominance with Warner Bros.’ century-long legacy of filmmaking and television excellence. Iconic franchises such as The Big Bang Theory, The Sopranos, Game of Thrones, The Wizard of Oz, and the entire DC Universe will become part of Netflix’s expanding portfolio, marking one of the most significant shifts in modern media history.
Netflix co-CEO Ted Sarandos said the acquisition aligns with the company’s long-standing mission. “Our mission has always been to entertain the world,” Sarandos said, calling Warner Bros. a natural fit for Netflix’s global ambitions. Co-CEO Greg Peters said the deal will help Warner Bros. productions reach “a broader, global audience” and accelerate Netflix’s long-term growth. “This acquisition will improve our offering and accelerate our business for decades to come,” he added.
The agreement, expected to close in late 2026, will give Netflix expanded studio capabilities and a dramatic increase in U.S. production capacity. It will also deepen the company’s investment in original content at a time when the streaming landscape is more competitive than ever.
But critics warn the deal could concentrate too much power in one company. U.S. Senator Elizabeth Warren sounded the alarm on X, writing that the merger would create a media “giant” with control over nearly half of the streaming market. “It could force you into higher prices, fewer choices over what and how you watch, and may put American workers at risk,” she cautioned.
The impact on Canadian viewers remains uncertain. HBO content is currently exclusive to Crave Canada through a multiyear agreement announced by Bell Media and Warner Bros. Discovery in October 2024. It is not yet clear how or whether the acquisition will affect that arrangement once the deal closes.
Netflix’s unprecedented takeover signals a dramatic reshaping of the entertainment industry, with implications that will be felt on screens—and in boardrooms—around the world for years to come.