Warner Bros. Discovery has announced that it has agreed to sell its streaming and studio assets to Netflix in a deal valued at $82.7 billion, marking one of the most significant mergers in modern Hollywood history.
The transaction places the 102-year-old Warner Bros. studio—home to a vast catalogue of iconic films—under Netflix’s control. The library includes major contemporary hits such as Dune, Barbie, and Sinners, alongside Hollywood classics like The Wizard of Oz and Casablanca.
The agreement also gives Netflix access to highly influential intellectual property, including DC Comics characters such as Batman and Superman, as well as the Harry Potter film franchise. Warner Bros.’ ownership of HBO means that acclaimed series like Game of Thrones and The White Lotus are also encompassed in the deal.
Industry analysts say Netflix’s acquisition of Warner Bros. represents the beginning of a new era for Hollywood, as the entertainment landscape continues shifting from traditional theatrical releases to a dominant digital-first model.
