Netflix Seals $82.7B Warner Bros. Discovery Acquisition, Gains HBO Max

• Netflix is acquiring Warner Bros., including its film/TV studios, HBO Max, and HBO.
• The acquisition is valued at approximately $82.7 billion in total enterprise value.
• WBD shareholders will receive $23.25 cash and $4.50 in Netflix stock per share.
• The deal combines vast content libraries, from DC Universe and Harry Potter to Stranger Things and Squid Game, aiming to enhance consumer choice.
• The transaction is expected to close after WBD's Discovery Global division separates in Q3 2026, with Netflix anticipating $2-3 billion in annual cost savings.

Why It Matters: Netflix acquiring Warner Bros. reshapes streaming, offering consumers immense content.