Archive · 10 Dec 2025
Netflix Bids $82.7 Billion for Warner Bros
Netflix wants to buy Warner Bros.
Discovery for $82.7 billion.
This includes Warner Bros.
movies, TV shows, and HBO Max.
Netflix sent a letter to its 301.6 million subscribers saying nothing will change right now.
Both streaming services will keep working separately until the deal is done.
Another company, Paramount, also wants to buy Warner Bros.
for $108.4 billion.
The U.S. President, Donald Trump, has said he will be involved in deciding if the deal can happen.
Both deals need approval from regulators and shareholders.
If the deal with Netflix goes through, it will create the biggest streaming service with lots of popular shows and movies.
Netflix has offered $82.7 billion to acquire Warner Bros. Discovery's studio and streaming assets, including HBO Max and HBO.
Netflix assured its 301.6 million subscribers that nothing will change immediately, and both streaming services will continue to operate separately.
Paramount has made a competing offer of $108.4 billion for Warner Bros. Discovery, going directly to shareholders with a higher cash offer.
The deal is subject to regulatory and shareholder approvals, with an expected closure in 12 to 18 months.
President Donald Trump has expressed concerns about the market share implications of the Netflix-Warner Bros. deal and will be involved in the decision.
- Who
- Netflix, Warner Bros. Discovery, Paramount Skydance
- What
- Netflix's $82.7 billion acquisition bid for Warner Bros. Discovery's studio and streaming assets
- When
- The deal was announced on December 5, 2025, with an expected closure in 12 to 18 months
- Where
- Global, with significant implications for the U.S. entertainment industry
- Why
- To combine Netflix's leading streaming service with Warner Bros.' iconic stories and content libraries
Netflix
Paramount
Offer Value
Netflix
$82.7 billion (including debt) with a $27.75 per share cash-and-stock offer
Paramount
$108.4 billion (including debt) with a $30 per share all-cash offer
Regulatory Approval
Netflix
Potential competition concerns raised by President Trump
Paramount
Claimed higher likelihood of regulatory approval, backed by Trump allies
Company Focus
Netflix
Focused on Warner Bros' film and TV studios, HBO, and HBO Max
Paramount
Includes Warner Bros Discovery's cable television properties
- Netflix Subscribers
- 301.6 million
- Netflix's Offer for Warner Bros
- $82.7 billion (including debt)
- Paramount's Offer for Warner Bros
- $108.4 billion (including debt)
- Netflix's Cash and Stock Offer per Warner Share
- $27.75
- Paramount's Cash Offer per Warner Share
- $30
- Netflix's Breakup Fee
- $2.8 billion
- Warner Bros' Breakup Fee
- $5.8 billion
- Expected Deal Closure
- 12 to 18 months after regulatory and shareholder approvals
- Warner Bros Discovery Debt
- $35 billion
Sources
What to Know About Paramount's Hostile Bid for Warner Bros. Discovery
Netflix sends letter to its 301 million subscribers amid Warner Bros acquisition bid — ‘Nothing is changing today’
Netflix to Acquire Warner Bros. Discovery’s Studio and Streaming Assets; What Trump Says
Paramount's hostile takeover bid filings for Warner Bros reveals ‘hidden’ name involved in deal — Jared Kushner
Paramount’s hostile $108.4B Warner Bros bid fueled by board’s ‘lack of responsiveness,’ filing reveals
Netflix sends 'nothing's changing' letter to subscribers as Paramount makes hostile offer for Warner Bros
Trump opposing Netflix - Warner deal because his son-in-law is involved in rival bid by Paramount?
Paramount made a hostile bid for Warner after Netflix deal. What happens next?
"Nothing Changing Today": Netflix's Late-Night Email On Warner Bros Deal
Paramount's $102 billion bid to sideline Netflix and buy Warner Bros Discovery — What you should expect
War for Warner Bros: Netflix and Paramount fight for ownership of some of the biggest names in entertainment industry, including Harry Potter and HBO
Paramount Fires Back at Netflix With a $108 Billion Bid for Warner Bros Discovery: What’s at Stake in Hollywood’s Biggest Showdown
How will the Warner Bros. bidding war affect the entertainment industry?
Paramount fights Netflix for Warner as Trump hovers
How will the Warner Bros. bidding war affect the entertainment industry?
DC Edit | Netflix Saga Rocks Hollywood
Netflix and Paramount are battling for more than just Warner Bros
Behind Paramount’s relentless campaign to woo Warner Discovery and President Trump
